Older Persons Act, 2006
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 EmpowermentStatement 100: The General Principles for Measuring OwnershipKey measurement principles3.14 Equity Instruments carrying preference rights |
| 3.14 | EQUITY INSTRUMENTS CARRYING PREFERENCE RIGHTS |
| 3.14.1 | An Equity Instrument carrying Preferential Rights is measurable in the same manner as an ordinary Equity Instrument. |
| 3.14.2 | An Equity Instrument carrying Preferential Rights that have the characteristics of a debt, regardless of whether the debt is that of an Entity or of a Participant, must be treated as an ordinary loan. If the debt is that of a Black Participant, it may be subject to measurement under Net Value. |
| 3.14.3 | In evaluating an instrument that has a hybrid nature including the characteristics of a debt, only that portion that represents a debt, will be measured under current equity interest. The remainder is measurable as an ordinary equity instrument. |
