More amendments to B-BBEE codes

Amendments to broad-based black economic empowerment (B-BBEE) good practice codes and statements 000, 300 and 400 were gazetted on Friday and will come into effect on 1 December 2019 – along with an amended Schedule 1, CompliNEWS contributor Pam Saxby reports. They will replace those published in October 2013 as components of a suite of revised codes giving practical effect to the 2013 B-BBEE Amendment Act and in force since 1 May 2015. The amended Code 300 deals with skills development, while the amended Code 400 focuses on enterprise and supplier development.

The amended Code 000 covers interpretative principles; application; the basis for measurement under the codes; thresholds in terms of which a measured entity is classified as an exempted micro-enterprise or qualifying small enterprise; the method used in measuring start-up enterprises; elements measurable under the generic scorecard as qualifying small enterprises; and the basis for determining compliance with the codes. The amended Schedule 1 focuses on interpretation and definitions.

At the time of writing, the Department of Trade and Industry had yet to issue a media statement on the rationale behind amending the codes.