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

Industry Charters

Forest Sector Charter

3. Interpretations

 

Expressions, definitions and qualifications used in the Charter have the meaning assigned to them in the Codes of Good Practice gazetted under section 9(1) of the Broad-based Black Economic Empowerment Act of 2003, unless otherwise specified hereunder.

 

Industry

Collective  term  for  enterprises  that  operate within the  Forest Sector as outlined in par. 2 of the Charter

Industry Codes of Conduct

Codes of Conduct provided for under par. 12.2 of the Charter

Industry Specific Contributions

An enterprise's contribution to industry specific initiatives as identified in par. 11.8 of this Charter for the sub-sector  in which the enterprise operates. Such contributions are extraneous to the measured entity's regular business activities and do not form part of any legal obligation upon the enterprise.

Ownership Bonus Points

The formula used to calculate Ownership Bonus Points as defined in Annexe C par. 6 of Code 100 Statement 100 also applies to the calculation of the Bonus Points under indicator 1.10 and 1.11 of the Scorecard for Medium and Large Forest Enterprises as outlined in table 1 of this Charter.

Realisation points for Net Equity Interest

As defined in Annexe C par. 4 of Code 100 Statement 100, provided that for enterprises in the grower sub-sector the graduation factor of the compliance target is based on full payment in equal trances over the crop rotation cycle for the timber crop grown by the enterprise, by applying the following formula:

C = N/R x 100% Where C is the graduation factor; N is the year after the effective date being measured; R is the crop rotation period in years

 

Further background information and explanatory notes on the Charter are contained in the Companion to the Charter. The Companion document does not form part of the Charter agreement unless particular reference is made to this in the Charter.

 

The acronyms used in the Charter shall have the following meanings:

 

ABET

Adult Basic Education and Training

ASGI-SA

Accelerated and Shared Growth Initiative for South Africa

B-BBEE

Broad-Based Black Economic Empowerment

CRLR

Commission on Restitution of Land Rights

DLA

Department of Land Affairs

DoA

Department of Agriculture

DTI

Department of Trade and Industry

DWAF

Department of Water Affairs and Forestry

DPE

Department of Public Enterprise

EAP

Economically Active Population

EME's

Exempted Micro-Enterprises

FIETA

Forest Industries Education and Training Authority

IDC

Industrial Development Corporation

IDP

Integrated Development Plan

ITAC

International Trade Administration Commission

NFA

National Forests Act No. 84 of 1998

NPAT

Net Profit after Tax

NSDS

National Skills Development Strategy

NSF

National Skills Fund

PGDS

Provincial Growth and Development Strategy

QSE's

Qualifying Small Enterprises

R&D

Research and Development

SAFCOL

South African Forestry Company Ltd

SAQA

South African Qualifications Authority

SALGA

South African Local Government Association

SAUPA

South African Utility Pole Associations

SMME

Small, medium and micro enterprise

SSP

Sector Skills Plan

WfW

Working for Water Programme