Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Amended Codes of Good Practice (2013)

Purchase

6.	ADDITIONAL CRITERIA APPLICABLE TO TRUSTS

6.1	for a Measured Entity to obtain the maximum points on its Ownership scorecard from shareholding by a Trust, the Measured Entity must be in possession of a certificate issued by a competent person to the effect:

6.1.1

that the Trust was created for a legitimate commercial reason which must be fully disclosed; and

6.1.2

that the terms of the Trust do not directly or indirectly seek to circumvent the provisions of the Codes and the Act.