Dti issues statement on the recognition of Broad-Based schemes

Posted by Transcend
Sunday, 10 May 2015  |  Comments

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The Department of Trade and Industry (the dti) has noted the questions relating to paragraph 1 (d) of the General Notice issued in Gazette Number 38764 on 5 May 2015, dealing with recognition of the Broad-Based Recognition Schemes:

  • The Notice will not have a retrospective effect. This means that all B-BBEE Deals concluded prior to 1 May 2015 will not be affected. These Deals will have a full recognition under Code Series 100.
  • the dti will appoint a Technical Task Team which will explore the appropriate balance between active (direct) and passive (broad-based schemes) ownership. The Technical Task Team will report to the Minister of Trade and Industry its recommendations within thirty (30) days.
  • Upon receipt of the recommendations, the Minister will provide further guidance on the implementation of Code Series 100.
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