Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Authority, Application and Structure of the Verification Manual
Authority of the Verification Manual
This Verification Manual was prepared in terms of the provisions of Section 10.1 of Code Series 000 Statement 000 of the Broad-Based Black Economic Empowerment Codes of Good Practice issued in terms of Section 9(1) of Broad-Based Black Economic Empowerment (B-BBEE) Act 53 of 2003 ("The Act"). The "dti" derives the power to issue this Manual from the Act 53 of 2003 read with the Codes.
The Manual incorporates the relevant provisions of SANAS R47 as amended, a document developed by the South African national Accreditation System (SANAS) to clarify the functions of BEE Verification Agencies and to specify the criteria by which they are to be accredited by South African National Accreditation System (SANAS) on behalf of the Department of Trade and Industry (the dti). SANAS also derived its power to issue SANAS R47 as amended, from Act and the Codes.
Application of the Verification Manual
The use of this Verification Manual is prescribed and shall be used by Verification Agencies when performing a B-BBEE verification.
Any Verification Agent who issues a Verification Certificate without applying the Guidelines set out in the Verification Manual shall be guilty of unprofessional conduct and the "dti" may recommend that he lose his Accreditation with SANAS.
Structure of the Verification Manual
The Verification Manual is set out as follows:
|•||Chapters 1-7 Deal with Guidelines on general principles to be implemented by Verification Agencies|
|•||Chapters 8-13 Deal with Guidelines and methodology to be followed in conducting Verification|
|•||Appendix 1 Sets out Samples of Verification Certificates|
|•||Appendices 2-8 Sets out the minimum verification procedures for each Element of the Codes that has to be met, and is based on the key measurement principles and calculations of the scorecard for each Element of the Codes|
|•||At the end of each appendix reference is made to requirements applicable to Qualifying Small Enterprises (QSEs).|