THE OUTSTANDING STATEMENTS ON THE AMENDED CODES OF GOOD PRACTICE ON B-BBEE

THE OUTSTANDING STATEMENTS ON THE AMENDED CODES OF GOOD PRACTICE ON B-BBEE

The Minister of Trade and Industry, Dr Rob Davies has gazetted the Second Phase of the Amended Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice for public comment.

         

The Generic Amended B-BBEE Codes of Good Practice gazetted on the 11 October 2013 with a transitional period of 18 months, up to 30 April 2015. The Department of Trade and Industry (the dti) committed to reviewing and gazetting the outstanding statements for public comment and finalization before the end of the transitional period.

The outstanding statements of the Codes include the Qualifying Small Enterprise Statements and Scorecards, the statement for Specialized Entities, the statement on development and gazette of sector charters, the recognition in the Sale of assets and the recognition of Equity Equivalents for Multinationals.

Minister Davies says the Amended Qualifying Small Enterprise Code consists of five elements which amounts to 100 points and provides a measurement framework, and scorecards with targets and weighting points for enterprises that fall into this category.

“Statement 003 – Development and gazetting of Sector Charters is geared towards reporting, monitoring and providing oversight on sectorial performance by the Sector Charter Councils and Line Ministries. This statement further provides a framework and streamline process for alignment of the Sector Charter to the Generic Codes; Statement 004 – Scorecard for Specialised Enterprises provides guiding principles for Public Entities, Organs of State, Section 21 Companies, Public Benefit Organisations, Non-profit organisations and Institutions of Higher learning to effectively implement and measure B-BBEE; Statement 102 – Recognition in the Sale of Assets provides measurement principles for Net Value in an event when a corporate sells a subsidiary or an asset to Black people; and Statement 103 – the Recognition of Equity Equivalents for Multinationals is targeted at qualifying multinationals, to guide them to implement key programmes that are aligned to government’s key developmental objectives such as Enterprise and Supplier development, Critical Skills Development and Research and Development,” said Davies.

The following statements released for Public Comment:

1.           Statement 003: Development and Gazette of Sector Charters

2.           Statement 004: Scorecards for Specialized Enterprises

3.           Statement 102: Recognition in the sale of Assets

4.           Statement 103: Recognition of Equity Equivalent for Multinationals

5.           Code 600 Statement 600 – 605: Qualifying Small Enterprise scorecard

Minister Davies added that a 30 day public commentary period has granted from the date of gazette 10 October 2014 to 14 November 2014.

Davies also mentioned that the department will engage stakeholders during the commentary period and will receive written comments until close of business on the 14 November 2014.