Broad Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
This Sector Code is the outcome of the deliberations of the AgriBEE Charter Council, following the gazetting of the AgriBEE Transformation Charter in March 2008 and the subsequent establishment of the AgriBEE Charter Council in December 2008. It takes into account opinions expressed at the Indaba and all previous drafts, and the gazetted Codes of Good Practice for Broad-Based Black Economic Empowerment ('the Codes'), as published by the Department of Trade and Industry ('the dti'), February 2007.
While the Broad-Based Black Economic Empowerment Act, No 53 of 2003 ('the Act'), has guided the development of the AgriBEE Sector Code, its conception is linked to the joint vision as contained in the Strategic Plan for South African Agriculture ('the Sector Plan') of a united and prosperous agriculture Sector designed to meet the challenges of constrained global competitiveness and low profitability, skewed participation, low investor confidence, inadequate support and delivery systems, and poor and unsustainable management of natural resources. This AgriBEE Sector Code derives directly from the Sector's core objective to ensure increased access and equitable participation in the Sector.
This document has been developed as a Sector Code for the Agricultural Sector in terms of Section 9 of the Act and provides for empowerment in the Sector and it includes the AgriBEE Scorecards for large enterprises, and Qualifying Small Enterprises (QSE). Where there is doubt, uncertainty or ambiguity with respect to the interpretation of this Code, the content of the Codes of Good Practice, as published by the dti, will prevail.
The diversity and uniqueness of sub-sectors within the agricultural Sector is acknowledged. In this respect, where sub-sector charters are developed, these must not be in conflict with this Code and, in turn, are encouraged to be consistent and in alignment with the AgriBEE Sector Code.
Targets contained in the AgriBEE Scorecard and the AgriBEE QSE Scorecard are based on those contained in the Broad-Based Black Economic Empowerment Codes of Good Practice, as published by the Department of Trade and Industry, February 2007, as well as on stakeholder inputs, comments and recommendations. Where no substantive reasons for deviation from targets contained in the Codes of Good Practice were put forward by stakeholders, targets have largely remained aligned with those contained in the Codes of Good Practice.
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