A NEW scorecard to calculate black economic empowerment (BEE) ratings will come into effect for all companies on December 1, following the publication of revised codes of good practice by Trade and Industry Minister Rob Davies yesterday.
Like the amendment of the Black Empowerment Act, which is expected to come to Parliament this month, the new codes are aimed at ensuring more meaningful black empowerment and the creation of genuine black-owned supplier companies. They will however require companies to recalculate their scores and will significantly affect existing empowerment ratings.
The codes have been published for 60 days of public comment, after which they will become binding.
via www.bdlive.co.za
Thanks Thinus. This could be poor reporting but Carol Paton is not that kind of journalist. Are we then to assume that the public comments are a mere formality and that this will all be published in time for Christmas irrespective of the comments and objection that will be made.
Probably – I can't allow corporate apathy on this issue. I make a living out of this and if these codes go through as they are then we will have no BEE in 24 months.
6% of leviable amount for training is madness in this current economy, 3% was hard enough to achieve
6% of leviable amount for training is madness in this current economy, 3% was hard enough to achieve