POPIA has unexpected implications for B-BBEE Schemes polity.org.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from polity.org.za Daily Mail and Mail on Sunday newspapers.
Practice Note provides welcome clarity on broad-based black economic empowerment structures
Search Polity
Note: Search is limited to the most recent 250 articles. To access earlier articles, click Advanced Search and set an earlier date range.
To search for a term containing the & symbol, click Advanced Search and use the search headings and/or in first paragraph options.
With.
Clear Search
Sponsored by
Sponsored by
A practice note (Practice Note) recently released by the Minister of Trade, Industry and Competition (Minister) has brought much-needed clarity on various matters relating to the allocation of shareholdings in companies to broad-based black economic empowerment (BBBEE) vehicles.
Since April 2019, the Broad-Based Black Economic Empowerment (BEE) commissioner Zodwa Ntuli has been on the warpath, insisting that several of the longest-established black empowerment schemes are operating in breach of the legislation, claiming BEE “ownership points” to which they are not entitled.
This is surprising for several reasons, not least because there has been no change in the intricate laws and regulations covering approved BEE since 2015.
Ntuli is an employee of the Department of Trade, Industry and Competition (DTIC) who was appointed by the minister in early 2019.
The main Broad-Based Ownership Schemes (BBOS) have made repeated calls on the DTIC to clarify the situation. The most recent was on 8 February 2021. But they have got the run-around from government.