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 EmpowermentIntegrated Transport Sector CodesRoad Freight Sub-Sector Code3. Indicators of Empowerment3.7 Enterprise Development |
3.7.1 | Our vision is to create, nurture and grow viable BEE enterprises within the industry while increasing opportunities available to existing companies. |
3.7.2 | Government Commits to: |
3.7.2.1 | Investigate opportunities to enter into creative joint ventures with BEE companies. |
3.7.3 | The Private Industry Commits to: |
3.7.3.1 | Pro-actively seek opportunities to enter into joint ventures (and other forms of alliances) and make direct investments in BEE companies. |
3.7.3.2 | Investigate opportunities to outsource non-core activities such as workshops, certain maintenance functions, security services and subcontract certain transport activities to BEE companies. |
3.7.3.3 | Enterprise Development Contributions: Ensure a minimum of 3% of Net Profit After Tax (NPAT) is directed towards enterprise development initiatives. |
3.7.3.4 | QSEs within this sector aspire to make contributions to enterprise development which will amount to 2% of NPAT evaluated annually over the next 5 years. |
3.7.3.5 | Enterprise Development Contributions: Endeavour to pay suppliers within 15 days of the date of invoice. The amount of the invoices will be recognisable as enterprise development contributions. |
3.7.3.4 | Measurement Principles and Application of the Sub-Sector Code |
3.7.4.1 | Measurement principles associated with the enterprise development element are contained in Statement 600 of Code 600 of the Generic Codes of Good Practice. |
3.7.4.2 | Qualifying contributions for the enterprise development element are contained in Annexure 600 (A) - Benefit Factor Matrix of the Statement 600 of Code 600 of the generic Codes of Good Practice. |
3.7.4.3 | The formulae required in the determination of the enterprise development score are contained in Annexure 600 (A) of Statement 600 of Code 600 of the Generic Codes of Good Practice. |
3.7.4.4 | Measurement principles required in evaluating the enterprise development contributions made by QSEs within this sector are contained in Statement 806 of code 800 of the Generic Codes of Good Practice. |