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

Notices

Permit the Department of Tourism to specify qualification criteria for the Tourism Equity Fund

Notice No. R. 102 of 2021

 

Notice No. R. 102

19 February 2021

GG 44172

 

Department of Trade, Industry and Competition

 

I, Ebrahim Patel, Minister of Trade, Industry and Competition, by virtue of the powers vested in me in terms of section 9(6) of the Broad-Based Black Economic Empowerment Act, 2003 (B-BBEE Act No. 53 of 2003) as amended by B-BBEE Amendment Act No.46 of 2013 ("the Act"), hereby publish a General Notice to permit the Department of Tourism to specify qualification criteria for the Tourism Equity Fund, which exceed those found in the relevant code of good practice.

 

1. The Department of Tourism ("the Department") made an application in 2019, with a revised application made in 2021, requesting permission to specify qualification criteria for the Tourism Equity Fund, on Ownership and Management Control elements, which exceed those set out in the relevant Code of Good Practice.

 

2. The Department has shown how doing so will promote the objectives of the B-BBEE Act specifically and transformation in general in the tourism sector.

 

3. I am satisfied that the application meets the requirements set out in section 9(6) of the Act.

 

4. I therefore approve the request in accordance with section 9(6) of the Act, to enable the Department of Tourism to specify qualification criteria for the Tourism Equity Fund in accordance with its application, which exceed those in the relevant code.

 

5. The permission to specify qualification criteria provided for above, is granted for the duration of the Tourism Equity Fund or a 10-year period, whichever is shorter.

 

 

Ebrahim Patel

Minister of Trade, Industry and Competition

Date: 17/2/2021