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

Industry Charters

Financial Services  Charter

Code Series FS000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000: General Principles and the Scorecard

11. Transitional period

 

11 .1 The transitional period shall exist from the commencement date of this Financial Sector Code until such time as the Access Standards have been agreed by the Financial Sector Council. During this transitional period, all measured entities shall report their B-BBEE compliance in relation to the scorecard and principles contained in this Financial Sector Code but will exclude the Access to Financial Services Element.

 

11.2 Notwithstanding, paragraph 11.1, measured entities shall be allowed to utilise their existing valid, verified Generic B-BBEE certificate during the period between the commencement date of this Financial  Sector Code and the expiry of their existing verified Generic B-BBEE certificates.