Statistics Act, 1999
R 385
Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Services CharterCode Series FS000: Framework for Measuring Broad-Based Black Economic EmpowermentStatement 000: General Principles and the Scorecard1. Objectives of this statement |
The objectives of this statement are to:
1.1 | Specify interpretative principles of B-BBEE as it relates to the Financial Sector; |
1.2 | Specify the application of the Financial Sector Code and the basis for measurement under the Financial Sector Code; |
1.3 | Specify the qualifying thresholds for businesses to qualify as Exempted Micro-Enterprises (EME) or Qualifying Small Financial Institutions (QSFI); |
1.4 | Specify the method of measuring Start-up Enterprises; |
1.5 | Specify the elements of B-BBEE measurable under the Scorecard; |
1.6 | Specify the Scorecard; |
1.7 | Specify the basis for determining compliance by entities with the Financial Sector Code; |
1.8 | Provide for the Transitional Period before the compulsory use of the Scorecard starts; |
1.9 | Define the duration for the applicability of the Financial Sector Code; and |
1.10 | Give the Financial Sector Council the power to provide Interpretive Guides / Guidance Notes / Practice Directives and Standards Documents with regard to the application, intention and any clarification required should any ambiguities exist in any part of this Financial Sector Code. |