by Nicolene Schoeman Louw | Jan 18, 2021 | Broad Based Black Economic Empowerment Advice and Planning, Commercial law, Publications
It has become a usual requirement for tenders to have pre-qualification criteria, especially including its BBBEE compliance level. The recent supreme court of appeal case, Afribusiness NPC v The Minister of Finance (Case no 1050/2019) [2020] ZASCA 140 (2 November...
by Petrus Khumalo | Dec 1, 2020 | Broad Based Black Economic Empowerment Advice and Planning, News
Objects of the Broad-Based Black Economic Empowerment (“BBBEE”) Act, 53 of 2003, as amended by Act 46 of 2013(hereafter the “Act”), include promoting economic transformation and achieving a substantial change in the racial composition of ownership. It is...
by Nicolene Schoeman Louw | Mar 3, 2020 | Broad Based Black Economic Empowerment Advice and Planning, Commercial law, Publications
A fronting practice is defined in the Broad-Based Black Economic Empowerment Act 53 of 2003 as amended (the “BBBEE Act” or the “Act”) as: “a transaction, arrangement or other Act or conduct that undermines the achievement of the objectives of the Act.”...
by Petrus Khumalo | Jan 1, 2020 | Broad Based Black Economic Empowerment Advice and Planning, News
Under Regulation 18 of the Broad-Based Black Economic Empowerment Regulations a party that enters into a BBBEE transaction which the share value is above R25 000 000 (Twenty-Five Million Rand), has to submit the transaction to the Broad-Based Black Economic...
by Nicolene Schoeman Louw | Nov 1, 2019 | Broad Based Black Economic Empowerment Advice and Planning, News, Publications
Amendments to the general codes of good practice will become effective on 1 December 2019. It is important to understand that this is effective on that date, regardless of the financial period being verified. The biggest changes are under the skills development...
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