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

Industry Charters

Construction Sector Charter

Code Series 2100 : Measurement of Ownership Element of Broad-Based Black Economic Empowerment

Statement 2100 : General Principles for Measuring Ownership

 

1)        The Ownership Scorecard

 

 

Ownership Indicator

Weighting points

Compliance Target
1.1 Voting Rights:

Year 0-4

Year 5-7

 
1.1.1 Exercisable Voting Rights in the Enterprise in the hands of Black People

4

27.5%

30%

 
1.1.2 Exercisable Voting Rights in the Enterprise in the hands of Black Women

2

10%
1.2 Economic Interest

Year 0-4

Year 5-7

 
1.2.1 Economic Interest of Black People in the Enterprise

5

27.5%

30%

 
1.2.2 Economic Interest of Black Women in the Enterprise

2

10%

 
1.2.3 Economic Interest of the following Black Natural People in the Enterprise:

5

10% Contractors

5% BEP's

 
1.2.3.1 Black designated groups;

 

 

 
1.2.3.2 Black Participants in Employee Ownership Schemes;
1.2.3.3 Black Beneficiaries of Broad Based Ownership Schemes;
1.2.3.4 Black Participants in Co-operatives
1.3 Realisation Points

 
1.3.1 Ownership fulfilment

1

Refer to paragraph 10.1, Code 100, P28

 
1.3.2 Net Value

6

Refer to Annexe C paragraph 4, Code 100, P33 and Notes on Calculations in Code 2100

 

2)        Notes on Calculations

 

a) The Net Value calculation referred to in Annexe C, Code 100 above: A=B x (1/ (27.5% or 30% x C)) x 6 (6 is the weighting attributed to this indicator; 27.5% and 30% is applicable depending on the timeframe specified).

 

3)        Code 100

 

a) Code 2100 shall adhere to all other principles, definitions and measurement methodologies contained in Code 100, Annexes and related Statements as published in the Government Gazette no. 29617 and where there are any conflicts, the requirements of Code 2100 shall take precedence over Code 100 as published in the Government Gazette No 29617.