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Sector Codes - a note from Empowerdex

Dear Valued Client,

With the implementation date of the codes just around the corner, we know and understand your frustrations about lack of clarity in the codes, and in particular about the status of the sector codes.  There are differing schools of thought in terms of what is likely to happen after the 1st of May in terms for those companies belonging to sectors that have a sector code in place.  One opinion is that since the sector codes enjoy the same legal status as the 2007 codes, they should stand until amended.  Another school of thought says that since the sector codes are currently based on the 2007 code, when that code ceases to exist, it would be difficult to justify the existence of those sector codes come 1st May.

There have been a few draft sector codes that have been circulating in the market, but none have been gazetted for commentary -for 60 days, which means we are unlikely to see a gazetted final sector code in this week. 

We have been informed that the Minister has been in communication with the different sector councils, and that an official announcement will be made on what will be status of these sector codes after the 1st May.  

In the meantime, the worst that can happen is complying with the 2013 generic codes as gazetted.  The best case being the leeway to comply with the sector code until amended – probably with tight time limits.  Our advice - plan for the worst, and you should be good J

Once the Minister’s communication has been made, we will be sure to send that through to you, as we all navigate these new unchartered terrains together.  Please contact us should you require further clarity, and we will do our best to assist.

 

The Empowerdex Team

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