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

Codes of Good Practice on Broad-Based Black Economic Empowerment

Amended Property Sector Code

12. The B-BBEE Amended Property Sector Code Generic Scorecard

 

12.1 The amended Property Sector Generic Code scorecard element weighting is as follows:

 

ELEMENT

CODE

NUMBERS

WEIGHTING

AMENDED PROPERTY SECTOR CODE

Ownership

Code 100

30 points

Management Control

Code 200a

9 points

Employment Equity

Code 200B

13 points

Skills Development

Code 300

19 points

Enterprise and Supplier Development

Code 400

39 points

Socio-Economic Development

Code 505

2 points

Economic Development

Code 600

5 points

TOTAL

117 points

 

12.2 The maximum weighting points available under the Amended Property Sector Code, including Bonus Points are:

Generic Entities        132 (117 + 15)

QSE Entities                110 (105 + 5)

 

Since the achievable points for entities within the property Sector vary depending on the relevant segment as per the Complex Structure Table clause 13.2, the points calculation for BEE Level qualification is according to the following formula:

 

where

 

A = Points for BEE level qualification
B = Maximum Points under Code
C = Maximum Points available to Measured entity as per clause 13.2 and relevant segment.

 

It should be noted that if a Measured Entity does not qualify for specific points such as Disposal of Assets or Property Development, the points under c are reduced accordingly.

 

Example

 

A Generic entity measured as an Asset Management organisation does not have to be measured under the Economic Development element as per clause 13.2. Thus, the maximum points available to that entity is 127 points. If that Measured Entity scores 85 points, the calculation for BEE Level qualification is as follows:

 

 

12.3 The B-BBEE recognition level of a property sector enterprise will be recognised based on the status framework as indicated in the DTI Codes, Code 000: B-BBEE Status.

 

12.4 In case of doubt, refer to the sector code technical guidelines to work out the recognition level based on a varying denominator.