Additional Statement from the dti on the recognition of Broad-Based Schemes

Last Updated Thursday, May 14, 2015 10:03:38 AM

The Department of Trade and Industry (the dti) has noted the questions relating to paragraph 1(d) of its Notice of Clarification for the Amended B-BBEE Codes of Good Practice issued on 5 May 2015 (Gazette Number 38764). In a Statement issued on 8 May 2015, the following is communicated in relation to Broad-Based Schemes:

  • The Notice will not have a retrospective effect. This means that all B-BBEE Deals concluded prior to 1 May 2015 will not be affected. These Deals will have a full recognition under Code Series 100.
  • The dti will appoint a Technical Task Team which will explore the appropriate balance between active (direct) and passive (broad-based schemes) ownership. The Technical Task Team will report to the Minister of Trade and Industry its recommendations within thirty (30) days.
  • Upon receipt of the recommendations, the Minister will provide further guidance on the implementation of Code Series 100.

The Statement from the dti can be accessed on the SAICA website.