Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Chartered Accountancy Charter
Appendix 1: Interpretations (continued 3)
means Economically Active Population as determined and published by Stats SA. The operative EAP for the purposes of any calculation under the Codes will be the most recently published EAP.
means a claim against an Entity representing a return on ownership of the Entity similar in nature to a dividend right, measured in accordance with the Flow-Through and Modified Flow-Through Principles.
means the Employment Equity Act of 1998, as amended.
mean the regulations under the Employment Equity Act.
mean the measurable quantitative or qualitative elements of B-BBEE compliance in the generic Scorecard and the Primary Codes.
bears the meaning as defined in the Labour Relations Act 66 of 1995, as amended.
'Employee Ownership Scheme'*
means a worker or employee scheme.
means, in terms of the Employment Equity Act, 1998, that its purpose is to achieve equality in the workplace by—
|(a)||promoting equal opportunity and fair treatment in employment through the elimination of unfair discrimination; and|
|(b)||Implementing affirmative action measures to redress the disadvantages in employment experienced by black designated groups, in order to ensure their equitable representation in all occupational categories and levels in the workforce.|
means a natural or juristic person conducting a business, trade or profession in the Republic of South Africa.
means a person who starts and I or operates a business which includes identifying opportunities in the market, taking risks with a view of being rewarded with profits.
'Enterprise Development Contributions'*
mean monetary or non-monetary contributions carried out for the following beneficiaries, with the objective of contributing to the development, sustainability and financial and operational independence of those beneficiaries.
|(a)||Category A Enterprise Development Contributions involve enterprise Development Contributions to Exempted Micro Enterprises or Qualifying Small Enterprises which are 50% black owned or black woman owned; and|
|(b)||Category B Enterprise Development Contributions involve enterprise Development Contributions to any other Entity that is 50% black owned or black woman owned or 25% black owned or black woman owned with a B-BBEE Status of between Level One and Level Six.|
means the instrument by which a Participant holds rights of ownership in an enterprise.
means, for purposes of direct empowerment in the CA profession, the committee responsible for the design and / or implementation of strategy and the executive or operational management of the organisation.
'Executive Members of the Board'*
mean those members of the Board who are executive directors as defined in the King Report.
'Exempted Micro Enterprise'
means an Entity with an annual turnover of less than R5 million.
'Exercisable Voting Right'*
means a voting right of a participant that is not subject to any limit.