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

Industry Charters

Forest Sector Charter

Tables

Table 1: Scorecard for Medium and Large Forest Enterprises

1. Ownership

 

INDICATORS

WEIGHTINGS (W) & TARGETS (T)

Forest Sector

Sub-sector specific deviations

W

T

W

T
1. Ownership 2

20

 

 

 
1.1 Exercisable voting rights in the Enterprise in the hands of black people

3

25%

+ 1

 

 
1.2 Exercisable voting rights in the Enterprise in the hands of black women

2

10%

 

 
1.3 Economic interest of black people in the Enterprise

3

25%

 

 
1.4 Economic interest of black women in the Enterprise

2

10%

 

 
1.5 Economic interest of the following natural people in the Enterprise:

2

7,5%

 

 
o Black designated groups;

 

 

 

 
o Black Participants in Employee Ownership Schemes;

 

 

 

 
o Black beneficiaries of Broad-based Ownership Schemes; or

 

 

 

 
o Black Participants in Cooperatives

 

 

 

 
1.6 Realisation points for ownership fulfilment (refer to par. 10.1 of Code 100 Statement 100)

1

Yes

 

 
1.7 Realisation points for net equity interest (refer to Annexe C par. 4 of Code 100 Statement 100)

7

Yes 3

 

 
1.8 Bonus points for involvement in the ownership of the enterprise by black participants

1

10%

 

 
o In Employee Ownership Schemes;

 

 

 

 
o Of Broad-based Ownership Schemes; or

 

 

 

 
o Of Cooperatives

 

 

 

 
1.9 Bonus points for involvement in the ownership of the enterprise by black new entrants

2

10%

 

 
1.10 Bonus point for achieving a higher target for indicator 1.3

1

30%

 

 
1.11 Bonus point for achieving a high target for indicator 1.4

1

15%

 

 

 

 

2  Including the recognition of Ownership Contributions arising from Qualifying Ownership Transactions and recognition of Equity Equivalents for Multinationals

3 Compliance target for growers is based on full payment in equal trances over the crop rotation cycle, and not a ten-year repayment period that applies to the rest of the sector.