Understanding the key elements of BEE: Charters, Scorecards and Codes of Good Practice for the Mining Industry
|
|
- Abraham Hudson
- 5 years ago
- Views:
Transcription
1 Understanding the key elements of BEE: Charters, Scorecards and Codes of Good Practice for the Mining Industry Address by Peter Leon Partner, Webber Wentzel Bowens
2 BEE in the South African economy The constitutional mandate for Black Economic Empowerment ( BEE ) contained in section 9(2) of the Constitution of the Republic of South Africa, 1996 led to the promulgation of the Broad-based Black Economic Empowerment Act, 2003 ( BEE Act ) in 2004, which provides the legislative framework for the promotion of BEE Government s underlying BEE strategy is to use the state s full purchasing power and regulatory muscle to increase the participation of black people in the economy by giving recognition and preference to entities which contribute to BEE The BEE Act: does not, itself, set any industry targets, but rather provides a framework for the implementation of BEE initiatives; and empowers the Minister of Trade and Industry to publish a set of Codes of Good Practice ( the Codes ) 2
3 A basic overview of the Codes The Codes were published on 9 February 2007 The following entities are measurable under the Codes: all public entities listed in schedule 2 or 3 of the Public Finance Management Act; any public entity listed in schedule 3, which are trading entities that undertake any business with any organ of state, or public entity; and any enterprise that undertakes any business with any organ of state or public entity Entities in the private sector are not obliged to comply with the Codes The market does, however, regulate the competitiveness of any entity which does not meet the Codes requirements, particularly when a private entity seeks to provide goods or services to a public entity The Codes are set out in a number of series (000 to 800), each of which contain statements that clarify issues relating to each BEE element Code Series 000 contains the general objects and principles of BEE. It: provides a generic scorecard emphasises substance over form provides that misrepresentation or fronting may lead to disqualification Codes Series 100 to 800 set out and explain the seven elements of Broad-based BEE ownership management employment equity skills development preferential procurement 3
4 Development of Transformation Charters Section 12 of the BEE Act provides for the publication of Transformation Charters by the Minister of Trade and Industry ( the Minister ) Transformation Charters comprise a commitment by entities in a particular sector to enforce BEE imperatives. They are devised and negotiated by industry bodies in consultation with government The BEE Act: confers regulatory status on Transformation Charters provides that a Transformation Charter must be taken into account and, as far as is reasonably possible, applied by public entities and organs of state in determining the qualification criteria for the issuing of licences, concessions or other authorisations in terms of any law The Mining Charter was, however, gazetted under the Mineral and Petroleum Resources Development Act, 2002 ( the MPRDA ) and cannot be classified as a Transformation Charter 4
5 The development and publication of the Mining Charter The Mining Charter was, after some debate, signed by the SA Chamber of Mines, the National Union of Mineworkers, small scale miners and the South African government on 11 October 2002: The vision behind the Mining Charter is to achieve a globally competitive mining industry for the benefit of all South Africans and to "create an industry that will proudly reflect the promise of a non-racial South Africa One of the Mining Charter s key objectives is to achieve 26% ownership of mining companies by previously disadvantaged people by 2014 A key component of the Mining Charter is the Mining Charter Scorecard, which provides a framework for measuring the BEE in the mining sector. The scorecard has three core elements: direct empowerment through ownership and control of enterprises and assets; human resource development and employment equity; and indirect empowerment through preferential procurement and enterprise development 5
6 The Codes and the Mining Charter: different targets and measurements The BEE Act and the Codes aim to provide a uniform vision for BEE throughout the economy ie the Codes are intended to apply across all sectors The Codes and the Mining Charter do not, however, provide the same targets and measurements for BEE in the mining industry The Department of Minerals and Energy ( the DME ) applies the Mining Charter, and not the Codes, when granting mining rights, as the MPRDA empowers the DME to grant mining rights and to convert old order mining rights by reference to the Mining Charter only An applicant for a mining right accordingly does not have to demonstrate to the DME its compliance with the Codes when applying for a mining right, but must demonstrate its compliance with the Mining Charter A mining company should, however, be aware that the Codes may apply in instances when it deals with business outside the mining industry. Eg a mining company with downstream operations or which sells the commodity it mines to a public entity or to a private entity (which wishes to score on procurement) 6
7 Differences between the Mining Charter and the Codes Unfortunately, the provisions and requirements imposed under the Codes differ significantly from those contained in the Mining Charter For example: the definition of a historically disadvantaged South Africans ( HDSA ) in the Mining Charter is a far wider than the concept of a black person in the Codes the scoring process is different. The Codes are based on an overall score, while the Mining Charter requires compliance with every element the Mining Charter Scorecard 7
8 The Codes and the Mining Charter: different targets and measurements for BEE Differences in scoring: overall score as opposed to checking the boxes The Codes balanced scorecard divides enterprises quantitatively into categories, based on the enterprise s total score on all elements. Accordingly, an entity can achieve from Level 1 to Level 8 contributor status to broad-based BEE The Mining Charter, although broad-based, requires compliance with every element of its scorecard. Its scorecard is scoreless ie one can only check the boxes in respect of compliance in different areas The Codes accordingly allow for degrees of compliance, but the application of the Mining Charter and the Mining Charter Scorecard renders an entity either compliant or non-compliant The Codes thus adopt a more nuanced approach to BEE 8
9 The Codes and the Mining Charter: different concept and measurement of ownership Equity ownership: different treatment Under the Codes: 20% equity weighting is made up of multiple indicators, including: voting rights; economic interest; and realisation points the flow through principle focuses on ownership by black natural persons: the chain of ownership by juristic persons is followed until that chain ends in a black individual s hands Under the Mining Charter Scorecard: a mining company is required to achieve HDSA participation in terms of ownership for equity or attributable units of production of 15% in HDSA hands within 5 years [2009]and 26% within 10 years [2014] HDSA participation is the only indicator. In practice, the DME does, inter alia, examine voting rights, but is not, in law, explicitly authorised to do so There is no indicator for net equity interest: ie there is no provision for a flow through principle 9
10 The Codes and the Mining Charter: BEE and the grant and conversion of mining rights BEE and mining rights: the Mining Charter The Mining Charter is crucial to the conversion process and to the award of new order mining rights, even though it does not comply with the provisions of the Codes (the Mining Charter was published five years before the Codes) mining rights must be awarded if, inter alia, the award of the right will accord with the Mining Charter referred to in section 100(2)(a) of the MPRDA; holders of mining rights must submit an annual report indicating compliance with the Mining Charter referred to in section 100(2)(a) of the MPRDA; and conversion from old order rights requires an undertaking to give effect to the MPRDA s social upliftment and transformation objectives contained in sections 2(d) and 2(f) of the MPRDA 10
11 The effect of the inconsistencies between the the Codes and the Mining Charter The Codes are intended to apply to all broad-based BEE initiatives conceived and implemented by organs of state and public entities The Mining Charter differs from the Codes in significant respects. This may create regulatory uncertainty The Codes could affect the Mining Charter s implementation: the Codes could lead to substantial changes to the Mining Charter, which is, in any event, due to be reviewed in May 2009; the Mining Charter Scorecard may (and probably should) be reviewed to make it a balanced scorecard with sub-minimum totals for equity and management; Mining companies are, however, protected from changes to the Mining Charter until the MPRDA conversion process is completed in May
12 A possible remedy? The BEE Act and the Codes provide for the adoption of Sector Codes, which enjoy equal status with that of any other Code [promulgated under the BEE Act]. There are no Sector Codes as yet A Sector Code can be adopted in circumstances where there is a common commercial and other characteristics within the entities operating in the sector the mining industry is one such sector The Mining Charter could used as a foundation to develop a Sector Code, which could thus remove regulatory uncertainty in the mining sector Code Series 000 sets out the principles applicable to developing a Sector Code, including: the proposed Sector Code must fully address all the Elements in the Generic Scorecard; the proposed Sector Code must use the same definitions in respect of all beneficiaries as those used in the Codes; and the proposed Sector Code must use the same calculation methodologies to measure compliance as those used in the Codes 12
13 Conclusion: how to minimise the regulatory uncertainty created by the Codes uncertain relationship with the Mining Charter As indicated, the DME applies the Mining Charter exclusively when issuing mining rights (as well as in respect of all other requirements of the MPRDA) A mining company should, however, be aware that the Codes may apply in instances when it deals with business outside the mining industry this would be typical of a mining company with downstream operations For example, a coal mining entity will need to comply with the Mining Charter to obtain a right to mine coal and with the Codes to sell coal to a public entity (eg ESKOM) Most mining companies have to date (correctly) applied the Mining Charter, which was carefully negotiated by the industry and represents the yardstick through which transformation commitments are measured A co-operative approach between the Department of Trade and Industry and the DME is essential to avoid regulatory uncertainty in the application of the Mining Charter and the Codes 13
CODES OF GOOD PRACTICE FOR THE SOUTH AFRICAN MINERALS INDUSTRY
(15 June 2017 to date) MINERAL AND PETROLEUM RESOURCES DEVELOPMENT ACT 28 OF 2002 (Gazette No. 23922, Notice No. 1273 dated 10 October 2002. Commencement date: 1 May 2004 [Proc. No. R25, Gazette No. 26264])
More informationBLACK ECONOMIC EMPOWERMENT IN SOUTH AFRICA STATEMENT 103 : THE MULTINATIONALS CODE RELYING ON EQUITY EQUIVALENTS? DON'T HOLD YOUR BREATH
WWB BLACK ECONOMIC EMPOWERMENT IN SOUTH AFRICA STATEMENT 103 : THE MULTINATIONALS CODE RELYING ON EQUITY EQUIVALENTS? DON'T HOLD YOUR BREATH At a glance: BEE in South Africa and the Multinationals Code
More informationReproduced by Sabinet Online in terms of Government Printer s Copyright Authority No dated 02 February 1998 CONTENTS INHOUD GOVERNMENT NOTICE
2 No. 32167 GOVERNMENT GAZETTE, 29 APRIL 2009 No. CONTENTS INHOUD Page No. Gazette No. GOVERNMENT NOTICE Minerals and Energy, Department of Government Notice 446 Mineral and Petroleum Resources Development
More informationAn EMPOWERDEX Guide. The Codes of Good Practice. Codes Definitions
An EMPOWERDEX Guide The Codes of Good Practice Codes Definitions ABET: Means Adult Basic Education and Training as determined by the National Qualifications Authority Accreditation Body: Means the South
More informationB-BBEE. Codes of Practice. Presented by: Prakash Singh. 10-Jul-17 1
B-BBEE Codes of Practice Presented by: Prakash Singh 10-Jul-17 1 Background In terms of section 9 of the B-BBEE Act, the Minister is empowered to issue the Codes of Good Practice Broad-Based Black Economic
More informationAssore Limited (Incorporated in the Republic of South Africa) (Registration number 1950/037394/06 Share code: ASR ISIN: ZAE ( Assore )
Assore Limited (Incorporated in the Republic of South Africa) (Registration number 1950/037394/06 Share code: ASR ISIN: ZAE000146932 ( Assore ) Shanduka Resources (Proprietary) Limited (Incorporated in
More informationBLACK ECONOMIC EMPOWERMENT ALERT
11 AUGUST 2016 BLACK ECONOMIC EMPOWERMENT ALERT IN THIS ISSUE RECENT CHANGES TO THE BEE LANDSCAPE: BBBEE ACT REGULATIONS TO THE BBBEE ACT BBBEE CODES BLACK INDUSTRIALIST POLICY DRAFT PPPFA REGULATIONS
More informationBROAD BASED BLACK ECONOMIC EMPOWERMENT VERIFICATION CERTIFICATE
Head Office, Location: C/O Dodge & Chevrolet Street RANDFONTEIN BROAD BASED BLACK ECONOMIC EMPOWERMENT VERIFICATION CERTIFICATE Big Red Investments (Pty) Ltd B-BBEE CERTIFICATE NUMBER: QSE/10/02/2016/133
More informationGovernment Gazette Staatskoerant
Government Gazette Staatskoerant REPUBLIC OF SOUTH AFRICA REPUBLIEK VAN SUID-AFRIKA Vol. 592 Pretoria, 10 October Oktober 2014 No. 38076 N.B. The Government Printing Works will not be held responsible
More informationOverview. Broad-Based Black Economic Empowerment (B-BBEE) in terms of Act 53 of 2003 and amended by Act 46 of 2013.
Overview Broad-Based Black Economic Empowerment (B-BBEE) in terms of Act 53 of 2003 and amended by Act 46 of 2013. All measured entities must use the Broad-Based Codes of Good Practice as amended as a
More informationRecent Developments in the South African Mineral & Mining Law Regime
1 Recent Developments in the South African Mineral & Mining Law Regime Manus Booysen Partner: Webber Wentzel Attorneys South Africa MineAfrica Toronto 4 March 2012 4376787 Webber Wentzel 2011 The origins
More informationCODES OF GOOD PRACTICE ON BROAD BASED BLACK ECONOMIC EMPOWERMENT
1325 Broad-Based Black Economic Empowerment Act (53/2003) as amended by B-BBEE Act (46/2013): Codes of Good Practice on Broad Based Black Economic Empowerment 41287 STAATSKOERANT, 1 DESEMBER 2017 No. 41287
More informationCodes of Good Practice on Broad-Based Black Economic Empowerment: Amended Financial Sector Code 2017
Codes of Good Practice on Broad-Based Black Economic Empowerment: Amended Financial Sector Code 2017 Published under GN 1325 in GG 41287 of 1 December 2017 I, Dr Rob Davies, Minister of Trade and Industry,
More informationGUIDE BROAD-BASED BLACK ECONOMIC EMPOWERMENT
GUIDE BROAD-BASED BLACK ECONOMIC EMPOWERMENT 2 Guide - Broad-Based Black Economic Empowerment Contents 04 Introduction 06 Our Firm 07 Our Footprint In Africa 08 Recent B-BBEE Deals 09 An Overview Of B-BBEE
More informationGovernment Gazette Staatskoerant
Government Gazette Staatskoerant REPUBLIC OF SOUTH AFRICA REPUBLIEK VAN SUID AFRIKA Regulation Gazette No. 10177 Regulasiekoerant Vol. 624 15 June Junie 2017 No. 40923 N.B. The Government Printing Works
More informationArrangement of this statement
20 No.35914 GOVERNMENT GAZETTE, 26 NOVEMBER 2012 CODE SERIES FS100: MEASUREMENT OF THE OWNERSHIP ELEMENT OF BROAD-BASED BLACK ECONOMIC EMPOWERMENT STATEMENT 100: THE GENERAL PRINCIPLES FOR MEASURING OWNERSHIP
More informationMINING CHARTER SCORECARD
MINING CHARTER SCORECARD ELEMENT DESCRIPTION MEASURE COMPLIANCE TARGET PROGRESS at a glance Reporting Ownership Reporting level of compliance with charter for calendar year Minimum target for effective
More informationLOCAL CONTENT. South Africa Mining & Petroleum
LOCAL CONTENT South Africa Mining & Petroleum The project 1 - background! Resource-rich countries are increasingly inserting requirements for local content ( local content provisions ) into their legal
More informationBROAD BASED BLACK ECONOMIC EMPOWERMENT ACT SECTION 9 (1) CODES OF GOOD PRACTICE AS AMENDED SCHEDULE 2
STAATSKOERANT, 1 DESEMBER 2017 No. 41287 323 BROAD BASED BLACK ECONOMIC EMPOWERMENT ACT SECTION 9 (1) CODES OF GOOD PRACTICE AS AMENDED SCHEDULE 2 INTERPRETATION AND DEFINITIONS Part 1: Interpretation
More informationCIRCULAR TO ASSORE ORDINARY SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 5 of this circular apply, mutatis mutandis, throughout this document including this
More informationMINING AND MINERALS ALERT
20 JUNE 2017 MINING AND MINERALS ALERT IN THIS ISSUE INVESTOR SENTIMENT OF THE REVISED MINING CHARTER 2017 AT BREAKING-POINT The South African government faces a real risk of being challenged in court
More informationIRBA Registration No: B Tel: Fax: Date of issue: 08 March 2016
IRBA Registration No: 397075 B Tel: 0861 555 353 Fax: 0865 940 846 Email: bee@beeshop.co.za Web: www.beeshop.co.za Broad-Based Black Economic Empowerment Verification Certificate Edward C Limburgh Painters
More informationCHARTER FOR SUSTAINABLE AND BROAD-BASED ECONOMIC AND SOCIAL TRANSFORMATION IN THE NAMIBIAN MINING SECTOR ( THE NAMIBIAN MINING CHARTER ) 19
CHARTER FOR SUSTAINABLE AND BROAD-BASED ECONOMIC AND SOCIAL TRANSFORMATION IN THE NAMIBIAN MINING SECTOR 2014-2020 ( THE NAMIBIAN MINING CHARTER ) 19 September 2014 1 Introduction and Context With the
More informationBROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION ( B-BBEE TRANSACTION ) AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
PETMIN LIMITED Incorporated in the Republic of South Africa Registration Number 1972/001062/06 Share Code JSE: PET ISIN: ZAE000076014 ('Petmin' or 'the Company') BROAD-BASED BLACK ECONOMIC EMPOWERMENT
More informationFor personal use only
ANNUAL REPORT 2012 B IKWEZI MINING ANNUAL REPORT 2012 THE STAR Ikwezi Mining Ltd derives its heritage and name from the isizulu word ikwezi which translates to morning star or rising star. The South African
More informationChallenges to the South African mining industry in the wake of Marikana and Mangaung
Challenges to the South African mining industry in the wake of Marikana and Mangaung Comments by Peter Leon to the Cape Town Press Club, Kelvin Grove Club, Newlands 8 February 2013 1. Statistics: the South
More informationADDRESS BY MINISTER OF MINERAL RESOURCES, MOSEBENZI ZWANE (MP) AT THE BLACK BUSINESS COUNCIL (BBC) BUSINESS BREAKFAST, 18 TH AUGUST 2017
ADDRESS BY MINISTER OF MINERAL RESOURCES, MOSEBENZI ZWANE (MP) AT THE BLACK BUSINESS COUNCIL (BBC) BUSINESS BREAKFAST, 18 TH AUGUST 2017 President of the Black Business Council, Dr Danisa Baloyi All the
More informationGazette of Amended Property Sector Code Change to the APSC
Gazette of Amended Property Sector Code Change to the APSC State of Transformation for the REITS Property Sector Intervention plans Role BBBEE Commission Presidential Requests AMENDED PROPERTY SECTOR CODE
More informationABVA BEST PRACTICE NOTES
ABVA BEST PRACTICE NOTES PREAMBLE HISTORY The B-BBEE Verification Industry has faced various challenges since the birth of the industry. At the top of the list, is the legislative framework within which
More informationAmended B BBEE Codes What you need to know!
What you need 1 Session 1: Introduction The Bigger Picture An Overview of the Legislative Framework governing BEE Compliance & New concepts, principles and definitions introduced in the Amended BEE Codes
More informationGovernment Gazette Staatskoerant
Government Gazette Staatskoerant REPUBLIC OF SOUTH AFRICA REPUBLIEK VAN SUID AFRIKA Regulation Gazette No. 10177 Regulasiekoerant Vol. 636 15 June Junie 2018 No. 41714 N.B. The Government Printing Works
More informationSTRATEGIES FOR TRANSFORMATION SUCCESS. Ownership in AgriBEE
STRATEGIES FOR TRANSFORMATION SUCCESS Ownership in AgriBEE Murray Chabant - Bio Murray is a CA(SA) with extensive experience in BBBEE compliance, empowerment transactions and business strategy. Growing
More informationTHE FSC JOURNEY SUMMARY OF THE NEW FSC CODES. 31 January 2017 Sandton, Jhb. Copyright Alternative Prosperity Advisory and Products (Pty) Ltd, 2015
THE FSC JOURNEY SUMMARY OF THE NEW FSC CODES 31 January 2017 Sandton, Jhb Copyright Alternative Prosperity Advisory and Products (Pty) Ltd, 2015 Status of the Revised FSC Codes The amended codes has gone
More informationThe Director-General National Treasury Private Bag X115 PRETORIA 0001
STAATSKOERANT, 14 AUGUSTUS 2009 No.32489 3 GENERAL NOTICE NOTICE 1103 OF 2009 NATIONAL TREASURY PREFERENTIAL PROCUREMENT POLICY FRAMEWORK ACT, 2000, (ACT NO.5 OF 2000): DRAFT PREFERENTIAL PROCUREMENT REGULATIONS,
More informationTHE 2017 MINING CHARTER
21 Richefond Circle, Ridgeside Office Park, Umhlanga Ridge, Durban l Dx 50, Durban P O Box 913, Umhlanga Rocks, 4320 Tel: 031 536 8500 l Fax: 031 536 8088 Website: www.coxyeats.co.za Circular No. 3/2017
More information1(a) In the case of a natural person, please provide the following: (i) Surname: (ii) First name(s):
251 Fox Street JOHANNESBURG 2001, SOUTH AFRICA Entrance: Cnr Greene & Main Streets (Jewel City) Form DB P. O. Box 16001, Doornfontein 2028 South Africa Tel (011) 223 7000 Fax (011) 334-8898 info@sadpmr.co.za
More informationWelcome.
Welcome www.propertycharter.co.za SCOPE OF PROPERTY SECTOR CODE Property Sector Code - Scope Residential Property Industry Houses Community schemes Flats, Clusters, Town Houses etc Zoned land Commercial
More informationPortfolio Committee on Trade and Industry. Parliament, Cape Town 21 October 2016
Portfolio Committee on Trade and Industry Parliament, Cape Town 21 October 2016 Delegation Zodwa Ntuli, Acting Commissioner Nontokozo Nokhwali-Mboyi, Operations Siphamandla Kumkani, Investigations & Enforcement
More informationUNWIND OF EXXARO S EXISTING BEE TRANSACTION, TERMS OF REPLACEMENT BEE TRANSACTION AND CAUTIONARY ANNOUNCEMENT
Exxaro Resources Limited (Incorporated in the Republic of South Africa) Registration number: 2000/011076/06 JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY ( Exxaro or the Company or the Group )
More informationCreamer Media Pty Ltd
STAATSKOERANT, 29 APRIL 2009 No.32166 3 GOVERNMENT NOTICE DEPARTMENT OF MINERALS AND ENERGY No. 445 29 April 2009 PUBLICATION OF THE HOUSING AND LIVING CONDITIONS STANDARD FOR THE MINERALS INDUSTRY The
More informationFINANCING AND STRUCTURING OF BEE DEALS FOR FOREIGN INVESTORS London, 20 November Farouk Abrahams Chief Executive: Batsalani Investments
FINANCING AND STRUCTURING OF BEE DEALS FOR FOREIGN INVESTORS London, 20 November 2007 Farouk Abrahams Chief Executive: Batsalani Investments OUTLINE INTRODUCTION: South African Mining Industry review Batsalani
More informationLabour Policy Digest
Labour Policy Digest A publication of the Chamber of Mines of South Africa December 2008 Contents Main article IRS Activities and the Year Ahead... 1 3 Topical issues Labour Courts... 3 Global Economic
More informationSouth Africa Mining Law 2016 ICLG
South Africa Mining Law 2016 ICLG 1.1 What regulates mining law? South African Mining Law is regulated by the Mineral and Petroleum Resources Development Act 28 of 2002 ( MPRDA ) which is the predominant
More informationSasol Limited BEE Transaction Media Briefing
Sasol Limited BEE Transaction Media Briefing 25 March 2008 forward-looking statements We may in this document make statements that are not historical facts and relate to analyses and other information
More informationAmended B BBEE Codes What you need to know!
What you need 1 Session : Part 1 Preferential Procurement "Sustainable SMME's Driving the Economy!" 1. What is Preferential Procurement? 2. Driving Forces & Procurement Recognition Levels 3. Scorecard
More informationWHO BENEFITS FROM MINING?
WHO BENEFITS FROM MINING? Over the last few years, the tide of resource nationalism has risen globally with countries from Africa to Australia, Brazil, Canada, Chile and India considering options to increase
More informationDISCUSSION DOCUMENT ON THE TRANSFORMATION POLICY FOR THE GAMING AND BETTING INDUSTRY IN THE PROVINCE OF KWAZULU-NATAL
DISCUSSION DOCUMENT ON THE TRANSFORMATION POLICY FOR THE GAMING AND BETTING INDUSTRY IN THE PROVINCE OF KWAZULU-NATAL 1. INTRODUCTION The KwaZulu-Natal Gaming and Betting Board ( the Board ) has, in its
More informationAgriGroupe Holdings Proprietary Limited (Incorporated in the Republic of South Africa) (Registration number 2013/013161/07) ( AgriGroupe )
AgriGroupe Holdings Proprietary Limited (Incorporated in the Republic of South Africa) (Registration number 2013/013161/07) ( AgriGroupe ) AFGRI Limited (Incorporated in the Republic of South Africa) (Registration
More informationThis is the Mining Industry. Long Cold winters and Short beautiful summers
This is the Mining Industry Long Cold winters and Short beautiful summers Delivered by: Mr. Mike Teke 4 October 2013 Today s conversation This too will Pass! The Global Mining space The State of South
More informationInclusive Growth. The quest for. NEF submission to the Parliament of the Republic of South Africa, Standing Committee on Finance
The quest for Inclusive Growth 1 NEF submission to the Parliament of the Republic of South Africa, Standing Committee on Finance (Transformation of the Financial Sector) March 2017 The quest for inclusive
More informationSubmission to Independent Communications Authority of South Africa on the. Amendment Individual Processes and Procedures Regulations 2015
Submission to Independent Communications Authority of South Africa on the Amendment Individual Processes and Procedures Regulations 2015 ( Amendment Regulations 2015 ) Government Gazette No. 38921 dated
More informationDRAFT STATEMENT 005 OF 2017 FOR BROAD-BASED BLACK ECONOMIC EMPOWERMENT THE B-BBEE VERIFICATION PROFESSIONAL REGULATOR
DRAFT STATEMENT 005 OF 2017 FOR BROAD-BASED BLACK ECONOMIC EMPOWERMENT THE B-BBEE VERIFICATION 1 INDEX BACKGROUND DEFINITIONS STANDARDS OF ETHICAL CONDUCT AND REQUIREMENTS STANDARDS ON EDUCATION REQUIREMENTS
More informationPOLICY ON PURCHASING Overview
POLICY ON PURCHASING Overview Preamble The purpose of this document is to establish a framework for the management of the commercial purchasing function of the University. UNISA undertakes to promote and
More informationTERMS OF REFERENCE FOR PURIFIED WATER DISPENSER AND COOLER
SBD 6.1 PREFERENCE POINTS CLAIM FORM IN TERMS OF THE PREFERENTIAL PROCUREMENT REGULATIONS 2011 RFQ: 2014/15-008 TERMS OF REFERENCE FOR PURIFIED WATER DISPENSER AND COOLER This preference form must form
More informationTRANSFORMATION POLICY
SANRAL TRANSFORMATION POLICY DRAFT Policy Reference Number Version Number Effective Date Review Date Policy Owner Signature Policy Sponsor Signature Date of Approval FRAMEWORK 1. INTRODUCTION 2. POLICY
More informationMarch Implementation of Broad Based Black Economic Empowerment (B-BBEE) Challenges faced by organs of state
March 2018 Implementation of Broad Based Black Economic Empowerment (B-BBEE) Challenges faced by organs of state Reputation promise of AGSA The Auditor-General of South Africa has a constitutional mandate
More informationMozambique. UNCTAD Compendium of Investment Laws. Law on Investment (1993) Official translation
UNCTAD Compendium of Investment Laws Mozambique Law on Investment (1993) Official translation Note The Investment Laws Navigator is based upon sources believed to be accurate and reliable and is intended
More informationFINANCIAL SECTOR CODE
FINANCIAL SECTOR CODE Agenda Introductions Gazetting and implementation Who does it apply to? Transitional Period What is different FSC Overview Introduction The Financial Sector Charter (the Charter)
More informationDETAILED TERMS ANNOUNCEMENT RELATING TO ALEXANDER FORBES PROPOSED 2
Alexander Forbes Group Holdings Limited Incorporated in the Republic of South Africa (Registration number 2006/025226/06) JSE share code: AFH ISIN: ZAE000191516 ( Alexander Forbes or the Company or Alexander
More informationDETAILED TERMS OF PPC S TOP-UP BLACK ECONOMIC EMPOWERMENT TRANSACTION AND WITHDRAWAL OF CAUTIONARY
PPC Ltd (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE and ZSE Code: PPC ISIN: ZAE000170049 ("PPC" or the "Company") DETAILED TERMS OF PPC S TOP-UP BLACK
More informationAMENDED CASH CONTRACT
AMENDED CASH CONTRACT As a consequence of the fact that from the Transfer Date you will be the beneficial owner of your Sasol BEE Ordinary Shares, but no longer the registered owner thereof A1. any reference
More informationGUIDANCE NOTE GN100 on CODE SERIES FS100, STATEMENT 100 RULES GOVERNING THE PROVISION OF BLACK BUSINESS GROWTH FUNDING: OWNERSHIP
GUIDANCE NOTE GN100 on CODE SERIES FS100, STATEMENT 100 RULES GOVERNING THE PROVISION OF BLACK BUSINESS GROWTH FUNDING: OWNERSHIP The provision of risk capital to support black business was negotiated
More informationTABLE OF CONTENT. SECTION 2 Transformation Statistics Of The Residential Industry (14 slides)
TABLE OF CONTENT SECTION 1 Introduction to transformation and Broad Based Black Economic Empowerment (8 slides) Understanding The Property Sector (8 Slides) SECTION 2 Transformation Statistics Of The Residential
More informationMBD 6.1 (EFFECTIVE FROM APRIL 2017) PREFERENCE POINTS CLAIM FORM IN TERMS OF THE PREFERENTIAL PROCUREMENT REGULATIONS 2017
MBD 6.1 (EFFECTIVE FROM APRIL 2017) PREFERENCE POINTS CLAIM FORM IN TERMS OF THE PREFERENTIAL PROCUREMENT REGULATIONS 2017 This preference form must form part of all bids invited. It contains general information
More informationAFRICA. A Legal Guide for Business Investment and Expansion SOUTH AFRICA
AFRICA A Legal Guide for Business Investment and Expansion SOUTH AFRICA AFRICA SOUTH AFRICA FIRM PROFILE: MACROBERT INCORPORATED ATTORNEYS MacRobert Inc is a national law practice in South Africa with
More informationSubmission to the Independent Communications Authority of South Africa
Submission to the Independent Communications Authority of South Africa DISCUSSION DOCUMENT ON EQUITY OWNERSHIP BY HISTORICALLY DISADVANTAGED GROUPS AND THE APPLICATION OF THE ICT SECTOR CODES IN THE ICT
More informationEnvironmental Law Environmental Law Firms
Environmental Law Environmental Law Firms THE STRUGGLE TO ACHIEVE COOPERATIVE GOVERNANCE CONTINUES Tuesday August 5th, 2014 A discussion on the transitional provisions of the National Environmental Management
More informationDEPARTMENT OF PUBLIC WORKS
DEPARTMENT OF PUBLIC WORKS No.692 9 June 2004 REGULATIONS IN TERMS OF THE CONSTRUCTION INDUSTRY DEVELOPMENT BOARD ACT, 2000 (ACT NO. 38 OF 2000) The Minister of Public Works has under section 33 of the
More informationE: DECLARATION OF INTEREST MBD No bid will be accepted from persons in the service of the state¹.
E: DECLARATION OF INTEREST MBD 4 1. No bid will be accepted from persons in the service of the state¹. 2. Any person, having a kinship with persons in the service of the state, including a blood relationship,
More informationCHECK AGAINST DELIVERY MINING INDABA KEYNOTE ADDRESS. Norman Mbazima, Deputy Chairman of Anglo American SA 5 February 2018
CHECK AGAINST DELIVERY MINING INDABA KEYNOTE ADDRESS Norman Mbazima, Deputy Chairman of Anglo American SA 5 February 2018 REVIVING MINING S HOLY GRAIL How we can encourage investment back into South Africa
More informationAMENDMENTS TO THE BBBEE ACT AND THE CODES
About Werksmans Attorneys AMENDMENTS TO THE BBBEE ACT AND THE CODES EXPLAINED Established in the early 1900s, Werksmans Attorneys is a leading South African corporate and commercial law firm serving multinationals,
More information27 February Per
27 February 2008 Bradley Viljoen Committee Secretary - Portfolio Committee on Finance 3rd Floor 90 Plein Street Workstation W/S 3126 Parliament of RSA Cape Town 8000 Per e-mail: bviljoen@parliament.gov.za
More informationBEE Calculations contents
BEE Calculations contents How to score in the BEE scorecard Basic Calculation of Ownership using the following methods 1. Control principal 2. Strict flow through principal 3. Modified flow through principal
More informationCOMMENTS ON THE DRAFT BROAD-BASED SOCIO-ECONOMIC EMPOWERMENT CHARTER FOR
TO: Department of Mineral Resources ATTENTION: Ms. Sibongile Malie DELIVERED: By email Sibongile.Malie@dmr.gov.za DATE: 31 August 2018 COMMENTS ON THE DRAFT BROAD-BASED SOCIO-ECONOMIC EMPOWERMENT CHARTER
More informationCONSTRUCTION INDUSTRY DEVELOPMENT REGULATIONS. GN 692 in GG of 9 June as amended by
CONSTRUCTION INDUSTRY DEVELOPMENT REGULATIONS Act Published under GN 692 in GG 26427 of 9 June 2004 as amended by GN R1333 in GG 26991 of 12 November 2004 GN 751 in GG 27831 of 22 July 2005 GN 842 in GG
More informationAMENDMENTS TO THE BBBEE ACT AND THE CODES
About Werksmans Attorneys AMENDMENTS TO THE BBBEE ACT AND THE CODES EXPLAINED Established in the early 1900s, Werksmans Attorneys is a leading South African corporate and commercial law firm, serving multinationals,
More informationJune Vodacom Group Limited BEE transaction
June 2018 Vodacom Group Limited BEE transaction Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentations may lawfully be communicated ( relevant
More informationTRANSFORMATION TRUMPS The policy bulletin of the IRR No 4/2018 I June 2018 I Issue 39 ANTHEA JEFFERY
@LIBERTY The policy bulletin of the IRR No 4/2018 I June 2018 I Issue 39 TRANSFORMATION TRUMPS SUSTAINABILTY ANTHEA JEFFERY June 2018 Published by the South African Institute of Race Relations (IRR) 2
More informationentered into between ( You ) 1 (insert full name of person who/which is: (insert identity number/registration number/it reference number)
BEE CONTRACT (which comprises the generic terms set forth below and, as regards each Specified Issuer, the Additional Terms which form an integral part of This BEE Contract) Your attention is drawn to
More informationNortham has concluded a fully funded R6.6 billion ten year secured Broad Based Black Economic
NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM Debt issuer code: NHMI ISIN code: ZAE000030912 ( Northam or Company ) NORTHAM
More informationTHE OCCUPATIONAL LUNG DISEASE FACILITATION PROCESS. Presented by John Brand 6 February 2017
THE OCCUPATIONAL LUNG DISEASE FACILITATION PROCESS Presented by John Brand 6 February 2017 INTRODUCTION Page 2 CONTENT The Gold Working Group The concerns: The legislation The MBOD/CCOD The litigation
More informationFinancial Reporting Frameworks and the Auditor s Report
SAAPS 2 (Revised 2018) South African Auditing Practice Statement (SAAPS) 2 (Revised 2018) Financial Reporting Frameworks and the Auditor s Report Independent Regulatory Board for Auditors PO Box 8237,
More informationCOMMON CONVENTION ON INVESTMENTS IN THE STATES OF THE CUSTOMS AND ECONOMIC UNION OF CENTRAL AFRICA *
COMMON CONVENTION ON INVESTMENTS IN THE STATES OF THE CUSTOMS AND ECONOMIC UNION OF CENTRAL AFRICA * The Common Convention on Investments in the States of the Central African Customs and Economic Union
More informationGLENCORE ANNOUNCES EXPRESSION OF INTEREST FOR OPTIMUM COAL HOLDINGS LIMITED
BAAR, SWITZERLAND 1 SEPTEMBER, 2011 GLENCORE ANNOUNCES EXPRESSION OF INTEREST FOR OPTIMUM COAL HOLDINGS LIMITED Glencore International plc ("Glencore") today announces its expression of interest in acquiring
More informationNAMIBIAN FINANCIAL SECTOR CHARTER (NFSC)
NAMIBIAN FINANCIAL SECTOR CHARTER (NFSC) CONTENTS NAMIBIAN FINANCIAL SECTOR CHARTER 1. INTRODUCTION AND RATIONALE...4 2. DEFINITIONS AND INTERPRETATION...7 3. GOVERNING PRINCIPLES AND OBJECTIVES OF THE
More informationREQUEST FOR PROPOSALS (RFP)
REQUEST FOR PROPOSALS (RFP) SUPPLY, INSTALLATION AND COMMISSIONING OF SANREN UNDERGROUND FIBRE OPTIC INFRASTRUCTURE FOR SOUTH AFRICAN RADIO ASTRONOMY OBSERVATORY (SARAO) RFP No. 3259/08/02/2019 B-BBEE
More informationACCREDITATION OF BEE VERIFICATION AGENCIES
ACCREDITATION OF BEE VERIFICATION AGENCIES Approved By: Chief Executive Officer: Ron Josias Senior Manager: Christinah Leballo Date of Approval: 2013-02-28 Date of Implementation: 2013-02-28 SANAS Page
More informationREQUEST FOR QUOTATION. Request Details. Closing details. Return Instructions
REQUEST FOR QUOTATION Request Details Quotation Number: AS/2016/RFQ/029/Printer/Copier/Scanner AgriSETA requires a quotation for: Specifications Delivery address Supply, delivery & installation of two
More information1. TSB Acquisition Introduction
RCL Foods Limited (Incorporated in the Republic of South Africa) (Registration number 1966/004972/06) Share code: RCL ISIN: ZAE000179438 ( RCL Foods or the Company ) PROPOSED ACQUISITION BY RCL FOODS OF
More informationREQUEST FOR QUOTATIONS (RFQ): TAX CALCULATIONS FOR THE FINANCIAL YEAR 2017/2018
Issued: 28-06 - 2018 REQUEST FOR QUOTATIONS (RFQ): TAX CALCULATIONS FOR THE FINANCIAL YEAR 2017/2018 The Johannesburg Social Housing Company SOC Ltd (JOSHCO) Reg. No. 2003/008063/07 invites all suitable
More informationThe South African Institute of Chartered Accountants Circular 4/2018 (Replacing 2/2015)
The South African Institute of Chartered Accountants Circular 4/2018 HEADLINE EARNINGS CONTENTS Preface Introduction SECTION A: BACKGROUND Paragraphs.01.03 Background to the use of in South Africa.04.10
More informationBEE CONTRACT. entered into between
BEE CONTRACT (which comprises the generic terms set forth below and, as regards each Specified Issuer, the Additional Terms which form an integral part of This BEE Contract) Your attention is drawn to
More informationClick to edit Master title style
Click to edit Master title style Operation Phakisa Initiative 2 - Saldanha Supply Base Facility Presentation of the RFP TNPA 2016/04/013/CM 1 Introduction This presentation (the Presentation) sets out
More informationSOUTH AFRICAN NATIONAL TAXI COUNCIL (SANTACO) ACQUIRES A 25% STAKE IN SA TAXI FINANCE HOLDINGS PROPRIETARY LIMITED ( SA TAXI ) FOR R1.
Transaction Capital Limited (Incorporated in the Republic of South Africa) Registration number: 2002/031730/06 JSE share code: TCP ISIN: ZAE000167391 ( Transaction Capital ) SOUTH AFRICAN NATIONAL TAXI
More informationNewFunds NewSA Index Exchange Traded Fund. Corporate and Investment Banking
NewFunds NewSA Index Exchange Traded Fund Corporate and Investment Banking Table of Contents Exchange Traded Funds 3 Fund Overview 3 NewSA Index 4 Fund Facts 4 Fund Benefits 5 Risks 7 Frequently Asked
More informationMETANC}IA ffi&y$ F*ffiS
METANC}IA ffi&y$ F*ffiS Empowering through transforrnation Block G, Office Park, 59 Woodlands Avenue, Hurlingham, 2070 Tel: 011 285 0006 Fax: +27 85 511 9009 Email: info@metanoiagroup.co'za Website: www.
More informationElectronic Communications Amendment Bill (ECA Bill)
01 Vodacom Group Limited Regulatory report for the year ended 31 March 2018 South Africa Regulatory report Electronic Communications Amendment Bill (ECA Bill) The Ministry of Telecommunications and Postal
More informationState of the Nation Address government s agenda for 2017
State of the Nation Address government s agenda for 2017 Elevated policy uncertainty has increased market awareness around the State of the Nation Address (SONA) an annual report on the state of the country
More informationRequest for Quotation
Request for Quotation Onsite Laundry Service RFQ Number: 28FEB001-M Date Issued: 28 February 2018 Closing Date: 12 March 2018 Closing Time: 12:00 PM Deliver Sealed Tenders to: Tender Box at the Security
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION
As filed with the United States Securities and Exchange Commission on 2 November 2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO
More information