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Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

10. Status of codes of good practice

 

(1) Every organ of state and public entity must apply any relevant code of good practice issued in terms of this Act in—
(a) determining qualification criteria for the issuing of licences, concessions or other authorisations in respect of economic activity in terms of any law;
(b) developing and implementing a preferential procurement policy;
(c) determining qualification criteria for the sale of state-owned enterprises;
(d) developing criteria for entering into partnerships with the private sector; and
(e) determining criteria for the awarding of incentives, grants and investment schemes in support of broad-based black economic empowerment.

 

(2)

(a) The Minister may, after consultation with the relevant organ of state or public entity, exempt the organ of state or public entity from a requirement contained in subsection (1) or allow a deviation therefrom if particular objectively verifiable facts or circumstances applicable to the organ of state or public entity necessitate an exemption or deviation.
(b) The Minister must publish the notice of exemption or deviation in the Gazette.

 

(3) Subject to section 9(6), an enterprise in a sector in respect of which the Minister has issued a sector code of good practice in terms of section 9, may only be measured for compliance with the requirements of broad-based black economic empowerment in accordance with that code.

 

(4) Enterprises operating in a sector in respect of which the Minister has issued a sector code of good practice in terms of section 9, must report annually on their compliance with broad-based black economic empowerment to the sector council which may have been established for that sector.

 

[Section 10  amended by section 6 of Act No. 46 of 2013]