Acts Online
GT Shield

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

Amended Codes of Good Practice (2013)

Amended Code Series 100: Measurement of the Ownership Element of Broad-Based Black Economic Empowerment

Annexe 100 (D)

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.