Financial Sector Codes and Construction Sector Codes – Our comments
The dti minister, Dr Rob Davies has today (1 December 2017) gazetted the Financial Sector Codes (FSC) and the Construction Sector Codes.
The FSC in particular has been long awaited. Until now the financial sector had been using the original financial sector codes which gave all in the FSC an unfair advantage over all other industries. It has been 4 years in the making.
The Construction Sector Codes have an interesting history. In 2015 because the sector could not agree on a code the minister repealed the code (as he should have done with the FSC, and needs to do with the still not released transport codes). This had the effect that the construction sector could not use their (easier) older codes, but had to follow the Amended Codes like many other industries. The minister of public works then decided that he still wants a construction code, so the industry had to go through the task of creating a draft and then after lots of consultation issue a final version for approval by the dti. It is interesting that they managed to issue a draft in October 2016 and final by 1 December 2017, faster that the FSC, and noteworthy that Agri and transport have still not released their codes.