Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Code Series 000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000 : General Principles and Generic Scorecard

1. Objectives of this statement
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The objectives of this statement are to:

 

1.1)specify interpretative principles of B-BBEE;

 

1.2)specify the application of the Codes and the basis for measurement under the Codes;

 

1.3)specify the qualifying thresholds for businesses to qualify as Exempted Micro-Enterprises (EME) or Qualifying Small Enterprises (QSE);

 

1.4)specify the method of measuring start-up enterprises;

 

1.5)specify the elements of B-BBEE measurable under the Generic Scorecard;

 

1.6)specify the Generic Scorecard;

 

1.7)specify the basis for determining compliance by entities with the Codes;

 

1.8)provide for the Transitional Period before the compulsory use of the Generic Scorecard starts; and

 

1.9)define the duration for the applicability of the Codes.