Dear Valued Clients,
We bring you insights into the announcements made by the DTI in the last week;
The Minister of Trade and Industry, Dr Rob Davies (MP), published a Public Statement on the Commencement of Section 3(b) of the Broad-Based Black Economic Empowerment Amendment Act, 2013 (Act No. 46 of 2013) also known as the ‘ trumping provision”. What this then means is: if a law that was passed before the commencement of the Broad-Based Black Economic Empowerment Amendment Act, 2013 (Act No. 46 of 2013) is in conflict with the B-BBEE Act, then the B-BBEE Act will prevail, except in the case for Petroleum and Mining as per the clarification below.
The Petroleum and Mining Industries have been given a further 12 month extension on the requirement to align to the Amended Codes. Read the following notice released by Minister Rob Davies.
In addition, the DTI has called for the final submissions of sector codes; Sector Charter Councils have been given until 15 November to submit aligned sector codes to Trade and Industry or suffer the result of being repealed.
Should you need to understand any of the above in more detail, feel free to speak to an analyst at your nearest Empowerdex office.
The Empowerdex Team