Proposed Amendments to the BEE Codes

The Minister of Trade and Industry has gazetted, for public comment, the following proposed amendments to the Codes of Good Practice on BEE. This was gazetted in Gazette no. 34019 published on 18/02/2011 and the public have 60 days to comment. Comments can be sent to:

Chief Director BEE Unit

Jacob Maphutha

jmaphutha@thedti.gov.za

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Words in brackets are what has been deleted and the underlined words are what have been inserted.

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1. Amendment of paragraph 3 of Code 600, Statement 600 – The General Principles fur Measuring Enterprise Development Element

Paragraph 5 of Code 600. Statement 600 is hereby amended by the substitution for paragraph 3 2.8.3 of the following

“3.2.8,3 settlement of accounts with beneficiary entities over a shorter period of time in relation to the Measured Entity’s normal payment period, provided the shorter payment period is no longer than [10] 15 days”.

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2. Amendment of paragraph 2 of Code 600, Statement 600 – The General Principles for Measuring Enterprise Development Element

Paragraph 2 of Code 600. Statement 600 is hereby amended by the substitution for paragraph 2.2 of the following.

“2.2 the following table represents the criteria and method used for deriving a score for enterprise Development under this statement:

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Criteria	Weighting Points	Compliance Target
[Average annual] Annual value of all Enterprise Development Contributions and Sector Specific Programmes made by the Measured Entity as a percentage of the target.	15	3% of NPAT

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3. Amendment of paragraph 3 of Code 600, Statement 600 – The General Principles for Measuring Enterprise Development Element

Paragraph 3 of Code 600, Statement 600 is hereby amended by the substitution for paragraph 3.1.2 of the following:

“3.1.2 Qualifying Enterprise Development Contributions of any Measured Entity are recognisable [cumulatively] on an annual basis”

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4. Amendment of paragraph 2 of Code 700, Statement 700 – The General Principles for Measuring the Socio Economic Development Element

Paragraph 2 of Code 700. Statement 700 is hereby amended by the substitution for paragraph 2.3 of the following:

“2.3 The following table represents the criteria and method used for deriving a score for Socio Economic Development under this statement:

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Criteria	Weighting Points	Compliance Target
[Average annual] Annual value of all Socio Economic Development Contributions by the Measured Entity as a percentage of the target.	5	1% of NPAT

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5. Amendment of paragraph 3 of Code 700, Statement 700 – The General Principles for Measuring the Socio Economic Development Element

Paragraph 3 of Code 700. Statement 700 is hereby amended by the substitution for paragraph 3.1.2 of the following:

“3.1.2 Socio Economic Development Contributions of any Measured Entity are recognisable [cumulatively] on an annual basis”

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6. Amendment of paragraph 7 of Code 800, Statement 806 – Enterprise Development for QSE’s

Paragraph 7 of Code 800, Statement 806 is hereby amended by the substitution for paragraph 7.1.2 of the following:

“7.1.2 The following table represents the criteria and method used for deriving a score for approved projects and enterprise development under this statement:

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Criteria	Weighting Points	Compliance Target
[Average annual] Annual value of all Enterprise Development Contributions and Sector Specific Programmes made by the Measured Entity as a percentage of the target.	25	2% of NPAT