FSC Update

Original publish date – Fri, 03 Apr 2009 12:11:22 +0000, Keith

The National Treasury has refuted news reports that the FSC no longer exists. Please read.

I am dumbfounded. It is patently obvious that National Treasury is either totally confused or deliberately trying to sabotage B-BBEE.
For the information of National Treasury, any charter comes into force when the dti gazettes it as a sector code in terms of the Codes of good practice. Until then it is a DRAFT charter and carries no force of law, is not considered a charter or code of good practice and no one may use it in calculating their BEE status as per the B-BBEE Act.

National Treasury may not give any special dispensation to the financial industry to use the FSC, as they do not control the B-BBEE act – the dti does.

Much as I have respect for minister Trevor Manuel, there have been numerous reports of him condeming BEE. Is this another strategy of his to discredit B-BBEE and the dti?

 

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