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 100: Measurement of the Ownership Element of Broad-Based Black Economic EmpowermentAnnexe 100 (E)4. Net Value |
| 4.1 | The "Net Value" points in paragraph 2.3.1 is the lower result of Formula A and Formula B below: |
|
Formula A
|
|
Where
A is the score under paragraph 2.3.1 of the Ownership scorecard
B is the Deemed Value for all Black Participants in the Measured Entity determined using Formula 3 above
C is the Time-Based Graduation Factor of the Economic Interest compliance target outlined below:
• 10% for the first year after the current equity interest date. • 20% for the second year after the current equity interest date. • 40% from the first day of the third year after the current equity interest date to the last day of the fourth year after the current equity interest date. • 60% from the first day of the fifth year after the current equity interest date to the last day of the sixth year after the current equity interest date. • 80% from the first day of the seventh year after the current equity interest date to the last day of the eighth year after the current equity interest date. • 100% from the first day of the ninth year after the current equity interest date to the last day of the tenth year after the current equity interest date.
|
|
Formula B
|
|
Where
A is the score under paragraph 2.3.1 of the Ownership scorecard.
B is the percentage Economic Interest in the Measured Entity of Black Participants
C is the target for the Ownership indicator in paragraph 2.3.1 of the Ownership scorecard.
|
| 4.2 | If an Entity gains a score in the Formula above that is more than the Weighting points in paragraph 2.3.1, that Entity will only receive the Weighting points. |
