by VDT Attorneys | Mar 8, 2018 | BEE, Charter, Financial
The Financial Sector BEE Charter (“FSC”) was published on 1 December 2017 and is effective immediately, with no transitional period applicable. All businesses operating within the South African financial sector, which includes banks, short and long term insurers,...
by VDT Attorneys | Oct 10, 2017 | BEE
The Broad-Based Black Economic Empowerment Amendment Act of 2013 (“BEE Act”) introduced the crime of fronting, defining a fronting practice as including a “transaction, arrangement or other act or conduct that directly or indirectly undermines or frustrates the...
by VDT Attorneys | Sep 7, 2017 | BEE
You are correct. A new draft Defence Sector BEE Charter (“Defence Charter”) has been published for comment in August this year. This Defence Charter will apply to all entities operating within the South African defence industry, including privately owned enterprises...
by VDT Attorneys | Aug 9, 2017 | BEE
The amended Property Sector Code for Broad-Based Black Economic Empowerment (“Amended Property Charter”) was gazetted on 9 June 2017. The Amended Property Charter applies to the residential and commercial property industry and also to property services such as...
by VDT Attorneys | Jun 9, 2017 | BEE, Business, Consumer
The amended Forestry Sector BEE Code (“Amended Forestry Code”) has been gazetted and is in force without a transition period. This means that all enterprises in this sector will immediately upon their next BEE rating be required to meet the requirements of the Amended...
by VDT Attorneys | May 8, 2017 | BEE, Business, Company, Construction
You are correct. The Revised Construction Sector BEE Codes (“Revised Codes”) do make provision for small construction companies to qualify for exempt BEE status, but subject to certain rules which must be understood in order to qualify for the exemption. It should be...
