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

Codes of Good Practice on Broad-Based Black Economic Empowerment

Property Sector Charter

18. Regulatory Issues



(18.1) It is acknowledged that the Codes of Good Practice will govern the measurement of B-BBEE. In this regard the stakeholders acknowledge that to the extent that the measurement principles contained in the Codes of Good Practice differ materially from those in the Sector code, the measurement principles in the Codes of Good Practice, will take precedence over the content of this Sector code.


(18.2) To the extent that any of the Codes of Good Practice specify further measurable elements of B-BBEE, the stakeholders commit to apply the utmost good faith in seeking to ensure that such elements are integrated into this Sector Code.


(18.3) The parties to the Sector code commit to review on an ongoing basis any legislation, policy and standards which may have a direct impact on the empowerment outcomes of the Sector Code and any sector code gazetted pursuant to this charter to ensure that the property sector remains committed to the attainment of the national B-BBEE objectives and priorities.


(18.4) This could include, but would not be limited to, government's regulatory framework in respect of property transactions where and whenever they have to apply for rights or ask for consent from government, including access to development land and rights and zoning rights and transactions.