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

Amended Codes of Good Practice (2017)

Purchase

2.1	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:

2.1.1

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

2.1.2

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