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

Codes of Good Practice on Black Economic Empowerment

Purchase

11.1)

For the first year after the commencement of this statement, a measured entity may elect to use –

11.1.1)

the Generic Scorecard; or

11.1.2)

the transitional scorecard.

11.2)

Thereafter, all B-BBEE compliance measurement under the Codes for Medium and Large enterprises is subject to the use of the Generic Scorecard.

11.3)

The transitional scorecard assigns a BEE Status based on the Ownership and Management Control of the entity calculated in terms of the formula below:

A = B x 1.92

Where:

A is the indicative BEE Status during the transitional period

B is the total score achieved under Code series 100 and 200