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

Codes of Good Practice on Broad-Based Black Economic Empowerment

Amended Property Sector Code

9. Eligibility as a Qualifying Small Enterprises (QSE)

 

9.1 Measurement of B-BBEE in Qualifying Small Enterprises for the below mentioned property segments, will apply as shown in the table below.

 

Qualifying

Small

Enterprises

ASSET

BASED

SERVICE

BASED

ESTATE AGENCIES/BROKING/

VALUATION

COMPANIES

Net Assets

Less than R400M

Annual Turnover

Less than R50M

Less than 35M

 

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

 

9.3 Enhanced B-BBEE recognition level for QSE:
9.3.1 A QSE which is 100% Black owned qualifies for an elevation to Level One contributor of B-BBEE recognition level.
9.3.2 A QSE which is at least 51% Black owned qualifies for an elevation to Level Two contributor of B-BBEE recognition level.
9.3.3 QSEs mentioned under 9.3.1 and 9.3.2 above are only required to obtain a sworn affidavit or Certificate from the Companies and Intellectual Property Commission (CIPC) on an annual basis, confirming the following:
9.3.3.1.1 Annual total revenue based on the QSE threshold table above.
9.3.3.1.2 Level of black ownership.

 

9.4 Any misrepresentation in terms of Para 9.3 above constitutes a criminal offence as set out in the B-BBEE Act as amended.