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

Industry Charters

Purchase

11 .1

Each financial institution will have a target of 33% black people on the board of directors by 2008;

11.2	Each financial institution will have a target of a minimum of 11% black women on the board of directors by 2008.

11.3	Based on an estimated ratio of 15% for 2002, each financial institution will have a target of a minimum of 25% black people at executive level by 2008;

11.4	Based on an estimated ratio of 2% for 2002, each financial institution will have a target of a minimum of 4% black women at executive level by 2008.