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

Codes of Good Practice on Black Economic Empowerment

Code Series 000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000 : General Principles and Generic Scorecard

1. Objectives of this statement


The objectives of this statement are to:


1.1) specify interpretative principles of B-BBEE;


1.2) specify the application of the Codes and the basis for measurement under the Codes;


1.3) specify the qualifying thresholds for businesses to qualify as Exempted Micro-Enterprises (EME) or Qualifying Small Enterprises (QSE);


1.4) specify the method of measuring start-up enterprises;


1.5) specify the elements of B-BBEE measurable under the Generic Scorecard;


1.6) specify the Generic Scorecard;


1.7) specify the basis for determining compliance by entities with the Codes;


1.8) provide for the Transitional Period before the compulsory use of the Generic Scorecard starts; and


1.9) define the duration for the applicability of the Codes.