Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Codes of Good Practice on Black Economic Empowerment
Integrated Transport Sector Codes
Maritime Transport & Services Industry Sub-Sector Code for B-BBEE
3. Indicators of Empowerment
This "Broad-Based BEE Sub-Sector Code for the Maritime Transport & Services Industry" seeks to encourage all stakeholders to pursue transformation agenda according to the broad guidelines set out in the BEE National Strategy and B-BBEE Act 53 of 2003. It is also necessary to set different targets and timeframes for the public and private industry because the two are at different stages of the transformation process.
This Sub-Sector Code shall remain in effect until amended, substituted and repealed under Section 9 of the B-BBEE Act, or with the parties to this Sub-Sector Code process agreeing to do so. The Transport Charter Council that will be established pursuant to this gazette will review this Sub-Sector Code following the end of the 5th year after its gazetting and despite the aforementioned, it shall be reviewed on an annual basis for monitoring purpose.