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

Industry Charters

Financial Services  Charter

Code Series FS000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000: General Principles and the Scorecard

3. Application of the Financial Sector Code


3.1 This Financial Sector Code is applicable to all entities as defined under the paragraph titled, "Scope of Application" under the Preamble section of this document.


3.2         The basis for measuring the B-BBEE compliance of an entity in terms of paragraph 3.1 is:


3.2.1        paragraph 4, in the case of an Exempted Micro-Enterprise (EME);


3.2.2        The QSFI statements in Code series FS900, in the case of a Qualifying Small Financial Institution (QSFI);


3.2.3        The Scorecard, in the case of other enterprises.