Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersForest Sector Charter5. Key principles5.5 B-BBEE and Good Governance |
Good governance must underpin B-BBEE. All participants in the sector (management, labour, communities and government) need to adhere to the highest standards of good corporate governance to improve the quality and transparency of business in the sector. Good governance includes being compliant with legislation, following due process, applying fair labour practices, being socially responsible and applying environmentally sustainable business practices. Fronting as a disguise for B-BBEE will not be acceptable and will be dealt with in accordance with the DTI guidelines.