Medicines and Related Substances Act, 1965
R 385
Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Black Economic EmpowermentCode Series 100: Measurement of the Ownership Element of Broad-Based Black Economic EmpowermentStatement 100 : The General Principles for Measuring Ownership5. Private Equity Funds |
| 5.1) | A Measured Entity may treat any of its ownership arising from a Private Equity Fund as if that ownership were held by black people, where the Private Equity Fund meets the following criteria: |
| 5.1.1) | more than 50% of any Exercisable Voting Rights associated with the Equity Instruments through which the Private Equity Fund holds rights of ownership, be held by black people; |
| 5.1.2) | more than 50% of profits made by the Private Equity Fund after realising any investment made by it, must by written agreement, accrue to black people; |
| 5.1.3) | the Private Equity Fund manager must be a BEE Owned Company as defined; and |
| 5.1.4) | more than 50% of the value of funds invested by any Private Equity Fund must at all times be invested In black owned enterprises that were at least 25% black owned before the investment of the Private Equity Fund. |
