Category: COGP-2007

Definition of Black

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;...

Senior top management

Means employees of a measured entity who are:(a) Members of the occupation category of “top management” as determined using the BEE regulations as qualified in a sector code;(b) Appointed by or on the authority of the board to undertake the day-to-day management of that measured entity and who:(i) Have individual...

Net-value date

Means the later occurring of the date of commencement of statement 100 and the date upon which the earliest of all still operative transactions undertaken by the measured entity or entities in order to achieve black rights of ownership, became effective and unconditional;  

Top manager

Means employees of a measured entity who hold rights of ownership, serve on the board, undertake the day to day management, have overall responsibility for the overall financial management and are actively involved in developing and implementing the overall strategy of the measured entity;  

Third party rights

(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...

Multinational business

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;