The B-BBEE Amendment Act 2013 defines Black as follows: ‘black people’ is a generic term which means Africans, Coloureds and Indians—(a) who are citizens of the Republic of South Africa by birth or descent; or(b) who became citizens of the Republic of South Africa by naturalisation—(i) before 27 April 1994;...
(a) Created against a black participant to secure, for a lender, repayment of a loan advance dot that participant for financing their purchaser of their equity instrument in the measured entity; (b) Held against a juristic person or trust that is in the chain of ownership between the measured entity...
Is a collective term for the right to economic interest and the right to exercisable voting rights;
Means the operating profit of a measured entity before tax. It incorporates both the equity/loss figures and abnormal items, but excludes extra ordinary items as determined by Generally Accepted Accounting Practices (GAAP);
Means the targets of the various elements in the generic and QSE scorecard;
Means an entity controlled by a measured entity whether directly or indirectly controlled by the natural persons who have direct or indirect control over that measured entity or the immediate of those natural persons;
Means the operating profit of a measured entity after tax. It incorporates both the equity/loss figures and abnormal items, but excludes extra ordinary items as determined by Generally Accepted Accounting Practices (GAAP);
Means any supplier or service provider to a measured entity if any portion of the supply or service provision falls within the definition of total measured procurement spend;
Means the ownership fulfilment point added to the net value points in the ownership scorecard;
Means the national skills development strategy referred to in section 5(1)(a)(ii) of the Skills Development Act;
Is a level one to level four contributor to BEE;
Means a sale of a business, valuable business assets or shares that results in the creation of sustainable business opportunities and transfer of specialised skills or productive capacity for black people;
Means a measured entity with a business in the Republic of South Africa and elsewhere which maintains its international headquarters outside the republic; Means a measured entity with a business in the Republic of South Africa and elsewhere which maintains its international headquarters outside the republic;
Has the meaning defined in section 1(3) of the Companies Act;
Means the QSE scorecard referred to in statement 800;
Means an entity in which:(a) Black people hold more than 50% of the exercisable voting rights as determine under code series 100;(b) Black people hold more than 50% of the economic interest as determine under code series 100; and(c) Has earned all the points for net value under statement 100;...
Means the document entitled “South Africa. Economic Transformation – A Strategy for Broad-Based Black Economic Empowerment” published by the department of trade and industry in March 2003 as amended or substituted under section 11 of the act;
Means a qualifying small entity that qualifies for measurement under the qualifying small entity scorecard with a turnover of between R5-million and R35-million; “Qualifying enterprise development contributions” is a collective term describing category A and B enterprise development contributions and in particular enterprise development contributions targeting black-owned EME’s and QSE’s,...
Means an entity in which:(a) Black women hold more than 30% of the exercisable voting rights as determined under code series 100;(b) Black women hold more than 30% of the economic interest as determined under Code series 100; and(c) Has earned all the points for net value under statement 100....
Means the plan of a measured entity approved by the relevant seta.
Means a recently formed or incorporated entity that has been in operation for less than one year. A start-up enterprise does not include any newly constituted enterprise which merely a continuation of a pre-existing enterprise;
Means an entity as defined in section 30 of the Income Tax act of 1962;
Means an entity as well as an organ of state or public entity subject to measurement under the codes;
Means the weightings applied to various elements in the generic scorecard;
Means a standard valuation method for an asset, and economic interest, or any other instrument or right relevant to measurement under statement 100, undertaken using normal valuation methods that represent standard market practice;
Means a third party fund through which investments are made on behalf of the actual owners of the funds pursuant to a mandate given by that person to the private equity fund;
Meaning any investments made by or through any third party regulated by legislation on behalf of the actual owner of the funds, pursuant to a mandate given by the owner to a third party, which mandate is governed by that legislation. Some examples of domestic mandated investments and the portions...
Means a voting right attaching to an equity instrument owned by or held for a participant measured using the flow-through principle or the control principle;
Socioeconomic development programmes commonly take the following forms: (a) Development programmes for women, youth, people with disabilities, people living in rural areas; (b) Support of healthcare and HIV/AIDS programmes; (c) Support for education programmes, resources and materials at primarily, secondary and tertiary education level, as well as bursaries and scholarships;...
Means core, critical and scare skills as well as any skills specifically identified:(a) In a sector skills plan issued by the department of labour of the Republic of South Africa; and(b) By the Joint Initiative for Priority Skills Acquisition (Jipsa established as part of the Accelerated and Shared Growth Initiative...