Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Amended Codes of Good Practice (2017)
Amended Code Series CSC100: Measurement of the Ownership Element of Broad-Based Black Economic Empowerment in the Construction Sector
Statement CSC100: The General Principles for Measuring Ownership
3. Key Measurement Principles
3.11 Non-Profit Companies
|3.11.1||A Measured Entity may elect to include or exclude Non-Profit Companies for the purposes of measuring Ownership in terms of this statement;|
|3.11.2||When a Measured Entity elects to exclude such companies, the maximum percentage of the Ownership of any such Measured Entity that may be so excluded is 40%;|
|3.11.3||A Measured Entity electing not to exclude Non-Profit Companies when it is entitled to do so, may either treat all of that Ownership as non-Black or obtain a competent person's report estimating the extent of Black Rights of Ownership measurable in the Measured Entity and originating from those Non-Profit Companies;|
|3.11.4||A Non-Profit Company that houses a Broad-Based Ownership Scheme or an Employee Share Ownership Programme is subject to the provisions governing those types of schemes and not to paragraphs 3.11.1 to 3.11.3.|
|3.11.5||Black Participants in a Non-Profit Company or a company limited by guarantee that houses a Broad-Based Ownership Scheme or an Employee Share Ownership Programme holding rights of Ownership in a Measured Entity may contribute:|
188.8.131.52 A maximum of 40% of the total points on the Ownership scorecard of the Measured Entity if they meet the qualification criteria for Broad-Based Ownership Schemes and Employee Share Ownership Programmes set out in CSC 100(B) and Annexe CSC100(C) respectively.
184.108.40.206 100% of the total points on the Ownership scorecard of the Measured Entity if they meet the additional qualification criteria set out for Broad-Based Ownership Schemes and Employee Share Ownership Programmes in Annexe CSC100 (B) and Annexe CSC100 (C) respectively.