Or have they. Technically the 5-7 targets should have come into effect on the 5th of June 2013. The only problem now is, when does the measurement period start. Rob in his infinite wisdom (which he does not have in abundance) decided that the DTI's generic codes would kick in mid-month. In other words if your financial year ended after the 9th of February then the new targets would apply to you. A grossly unfair state of events for those companies whose year ends at the end of February. This time things are a little different. IRBA is without doubt the more popular verification authority and it is run by accountants. Accountants like certainty and black and red (and white too) – the way they would interpret this is that all measurement periods commencing after the 5th of June 2013 would be subject to the new targets. I agree with this, but it is unlikely that the personnel at the Construction Sector Council and the DTI would ever understand usch an international standard. Alas we are at their mercy. I must then conclude that all companies subject to the code should use the new targets from the 5th of June 2013.
For your convenience and mine, I have put up those generic codes for Construction and BEPs.
Ownership (Construction and BEP)
|
Ownership. Total points – 25 |
|||
|
Description |
Weighting points |
Compliance Target Year 5-7 |
|
|
Voting rights |
|||
|
Exercisable voting rights in the enterprise in the hands of black people. |
4 |
30% |
|
|
Exercisable voting rights in the enterprise in the hands of black women. |
2 |
10% |
|
|
Economic interest |
|||
|
Economic interest in the enterprise to which black people are entitled |
5 |
30% |
|
|
Economic interest in the enterprise to which black women are entitled |
2 |
10% |
|
|
Economic interest of the following black natural people in the enterprise
are entitled |
5 |
5% |
|
|
Realisation points |
|||
|
Ownership fulfilment |
1 |
No restrictions |
|
|
Net value |
6 |
25% |
|
Management (Construction and BEP)
|
Management Control. Total points –10 |
|||
|
Description |
Weighting points |
Compliance Target Year 5-7 |
|
|
Board participation |
|||
|
Exercisable voting rights of black board members using the adjusted recognition for gender (ARFG) |
5 |
40% |
|
|
Top management participation |
|||
|
Black senior top management using the adjusted recognition for gender (ARFG) |
5 |
40% (year 5-7) |
|
Employment Equity – Construction
|
Employment Equity. Total points – 10 |
||
|
Description |
Weighting points |
Compliance Target (Years 5-7) |
|
Black employees in senior management as a percentage of all such employees using the ARFG |
3.5 |
60% |
|
Black employees in middle management as a percentage of all such employees using the ARFG |
3.5 |
75% |
|
Black employees in junior management as a percentage of all such employees using the ARFG |
2.5 |
80% |
|
Black disabled employees as a percentage of ALL |
0.5 |
3% |
Employment Equity – BEP
|
Employment Equity. Total points – 10 |
||
|
Description |
Weighting points |
Compliance Target (Years 5-7) |
|
Black disabled employees as a percentage of ALL |
0.5 |
3% |
|
Black employees in all management categories as a percentage of all such employees using the ARFG |
9.5 |
60% |
Preferential Procurement – (Construction and BEP)
|
Preferential Procurement. Total points – 20 |
||
|
Description |
Weighting points |
Compliance Target (Years 5-7) |
|
B-BBEE procurement spend from all suppliers based on the B-BBEE procurement recognition levels as a percentage of total measured procurement spend |
12 |
70% |
|
B-BBEE procurement spend from all Qualifying Small Enterprises (QSEs) or from Exempted Micro-Enterprises (EMEs) based on the applicable B-BBEE procurement recognition levels as a percentage of total measured procurement spend |
3 |
15% |
|
B-BBEE procurement spend from any of the following suppliers as a percentage of total measured procurement spend: |
||
|
suppliers that are 50% black owned |
3 |
12% |
|
suppliers that are 30 % black women owned |
2 |
8% |