Dear valued client,
Three Amended Sector Codes have been approved by Cabinet recently. Please refer to the link below. The relevant paragraph is 11.2.
11.2. Cabinet supported the proposed amendments of the three B-BBEE Sector Codes. The amendments address sector challenges and peculiarities on transformation that would otherwise not be addressed fully by the generic codes. The three sectors are in Agriculture, Finance and Construction. The proposed amendments have been canvassed with the relevant stakeholders. All the amended sector codes will be gazetted.
The Minister of Trade and Industry still has to approve (sign) the gazette before it can be submitted to the Government Printing Works, who require at least 7 days’ notice in order for a National Ordinary Gazette notice to be published. The Amended Sector Codes will only become effective on the publication date. It is difficult to estimate exactly how long this process will take, but it may be within the next month or even sooner. Once the Gazette has been published all relevant verifications must be signed off from thereon on the new and amended codes.
Regards
Regards
Empowerdex Team