BBBEE Legislation

REVISED BROAD-BASED BLACK ECONOMIC EMPOWERMENT (B-BBEE) CODES OF GOOD PRACTICE

Cabinet noted the revised B-BBEE Codes of Good Practice 2012 and approved that these be published for public comment. The comment period closed in December 2012.

The revised Codes will enhance the implementation of B-BBEE in a meaningful and sustainable manner, and contain principles and guidelines that will facilitate and accelerate the implementation of B-BBEE. The purpose of the Codes is to assist and advise the public and private sectors in the implementation of the B-BBEE Act.

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BBBEE Amended Codes of Good Practice: Taking advantage of the transitional period

Statement of Clarification by the Dti

On the 28 February 2014, the Minister of the Department of Trade and Industry issued a Gazette notice 226 of 2014, the purpose of the notice was to provide extension on the amended B-BBEE Codes of Good Practice transitional period by six months, which effectively granted the market 18 months to be ready, thus the transitional period will run from 11 October 2014 until 30 April 2015.

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