Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Sector Charter on Black Economic Empowerment16. The scorecard |
16.1 | The scorecard set out in Annexure A forms an integral part of the financial sector charter and provides an objective and broad-based set of measurement indicators for purposes of measuring BEE progress in and between financial institutions, in different sub sectors and in the financial sector as a whole. It will be used by: |
• | each financial institution as a basis for self-assessment of its BEE endeavours; |
• | the Charter Council as a means of evaluating BEE progress in the sector; |
• | Government in the adjudication of contracts awarded to financial institutions; and |
• | the private sector in the awarding of contracts to financial institutions. |
16.2 | Financial institutions, which are exempted from any paragraph in the charter in terms of paragraph 4 will not be required to complete the specific section in the scorecard, subject to paragraph 4. Under such circumstances, the points allocated to the paragraph from which the financial institution is exempted will be cancelled, and it will score out of the remaining points and calculate its score as a percentage of that reduced remainder. |
SIGNED:
Association of Black Securities and Investment Professionals (As mandated by the Black Business Council |
Association of Collective Investments |
Banking Council of South Africa |
Bond Exchange of South Africa |
Foreign Banker Association of SA |
Investment Managers Association of SA |
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Institute of Retirement Funds |
JSE Securities Exchange South Africa |
Life Offices' Association of South Africa |
South African Reinsurance Offices' Association |
South African Insurers Association |
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