The Companies Act, No. 71 of 2008 and the Companies Regulations, 2011 brought forth a new concept of the public interest score (PI Score). Each company is required to calculate a PI Score annually. This calculation should be done for each company individually and not at a consolidated group level. The PI Score helps: Determining […]
Fincor
“Liquor Licences” and B-BBEE
Are you aware that B-BBEE compliance is part of the requirements when applying for a” Liquor Licence”? Below are some extracts from the Department of Trade and Industry’s website regarding application requirements. “HOW TO APPLY FOR A MANUFACTURING AND/OR DISTRIBUTION LICENCE” INSTRUCTION C: B-BBEE AND COMBATING ALCOHOL ABUSE The applicant needs to indicate their commitment […]
Draft Amended Tourism Sector Charter
In this article, we focus on the Amended Sector Code for the Tourism Sector which was gazetted on 27 September 2019 (Gazette Number 42725). In the Gazette the Tourism B-BBEE Charter Council has requested public feedback by no later than 30 November 2019. Following the issuing of the amended Generic Codes of Good Practice on […]
Socio-Economic Development
In this article we focus on the basic criteria of the Socio-Economic Development Element within the scope of the B-BBEE Act, Number 53 of 2003. Socio-economic development is the fifth element that an entity is measured on. Socio-Economic Development (SED) contributions are any monetary or non-monetary contribution implemented for individuals (natural individual or group of […]
AARTO’S POINTS DEMERIT SYSTEM— ROAD TRAFFIC INFRINGEMENTS
Government published a new Gazette, Number 42648 on 19 August 2019 as Act Number 4 of 2019 titled “Administrative Adjudication of Road Traffic Offences Amendment Act, 2019” more commonly known as the AARTO Act. The purpose of the published Amended Act is: To amend the Administrative Adjudication of Road Traffic Offences Act, 1998, so as […]
The Tourism Sector Code within the B-BBEE Act
In this article we focus on the basic criteria of the Tourism Sector Charter within the scope of the B-BBEE Act, Number 53 of 2003. The amended sector code was gazetted on 20 November 2015. The amended charter is extensive in detail and contains criteria vastly different to that of other sector charters. The Amended […]
The Property Sector Charter – EMEs
In this article, we focus on the basic criteria of the Property Sector Charter within the scope of the B-BBEE Act, Number 53 of 2003 in relation to Exempted Micro Enterprises (“EMEs”). The original charter was gazetted on 01 June 2012 as Gazette Number 35400 and subsequently amended by Gazette 40910 on 09 June 2017. […]
Amended Construction Sector Code
On the 01st of December 2017, the amended Construction Sector Codes were published via Government Gazette No 41287. The gazette may be downloaded here For this article, we will focus on the priority elements and certain definitions. The Amended Construction Sector Code distinguishes, in certain instances between Built Environment Professionals (BEP) and Contractors in respect […]
Amendments to the B-BBEE Codes of Good Practice – part 2 of 2 – Code Series 400
This article is in addition to the article published on 03 July 2019. On the 31st of May 2019, Amendments to the Codes of Good Practice were published via Government Gazette No 42496. The fourth part of the gazette may be downloaded here: Principles for Measuring Enterprise and Supplier Development – Code Series 400 This […]