Construction Industry Development Board Act, 2000 (Act No. 38 of 2000)

Regulations

Purchase

(1)	The contractor grading designation of a contractor who is not based in South Africa, is determined in accordance with these Regulations, but the monetary values are based on the exchange rate in ZAR in relation to—

(a)	that contractor's financial statements on the date of the applicable financial year-end; and

(b)	the value of construction works projects completed, on the date of the completion of the applicable project.

(2)	The values contemplated in subregulation (1) must include value added tax or similar taxation as levied in the contractor's country of origin.

[Regulation 16 substituted by regulation 15 of Notice No. 1224 dated 14 November 2008]