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

Amended Codes of Good Practice (2013)

Purchase

5.1	A Measured Entity with an annual Total Revenue of between R10 million and R50 million qualifies as a Qualifying Small Enterprise.

5.2	A QSE must comply with all of the elements of B-BBEE for the purposes of measurement.

5.3	Enhanced B-BBEE recognition level for QSE:

5.3.1

A Qualifying Small Enterprise which is 100% Black owned qualifies for a Level One B-BBEE recognition.

5.3.2

A QSE which is at least 51 % Black owned qualifies for Level Two B-BBEE recognition level.

5.3.3

A QSE is only required to obtain an sworn affidavit on an annual basis, confirming the following:

5.3.3.1

Annual Total Revenue of R50 million or less; and

5.3.3.2

Level of Black ownership.

5.4	Any misrepresentation in terms of Para 5.3 above constitutes a criminal offence as set out in the B-BBEE Act as amended.