Medicines and Related Substances Act, 1965
R 385
Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Amended Codes of Good Practice (2013)Amended Code Series 000: Framework for Measuring Broad-Based Black Economic EmpowermentStatement 000: General Principles and the Generic Scorecard2. Key principles |
2.1 | The fundamental principle for measuring B-BBEE compliance is that substance takes precedence over legal form. |
2.2 | In interpreting the provisions of the Codes any reasonable interpretation consistent with the objectives of the B-BBEE Act as amended and the B-BBEE Strategy must take precedence. |
2.3 | The basis for measuring B-BBEE initiatives under the Codes is the B-BBEE compliance of the Measured Entity at the Date of Measurement. |
2.4 | Any misrepresentation or attempt to misrepresent a Measured Entity's true B-BBEE Status will be dealt with in accordance with the provisions as set out in the B-BBEE Act as amended, and may lead to the disqualification of the entire scorecard of the entities concerned. |
2.5 | Initiatives which split, separate or divide a Measured Entity as a means of ensuring eligibility as an Exempted Micro-Enterprise, a Qualifying Small Enterprise or a Start-Up Enterprise may constitute an offence and will be dealt with in accordance with the provisions as set out in the B-BBEE Act as amended. |
2.6 | Any representation made by an Entity about its B-BBEE compliance must be supported by suitable evidence or documentation. A Measured Entity that does not provide evidence or documentation supporting any initiative must not receive any recognition for that initiative. |
2.7 | Wherever a Standard Valuation Method applies to measuring an indicator, the same standard should apply, as far as reasonably possible, consistently in all other applicable calculations in this statement. |