New BEE Code targets

The trade and industry department has published a gazetted notice announcing new targets for the Codes of Good Practice, which are published in terms of the Broad-Based Black Economic Empowerment (BBBEE) Act of 2003.

The Codes were first published in 2007 and were designed to provide principles and guidelines, government says, that will facilitate and accelerate the implementation of broad-based BEE “in a meaningful and sustainable manner”

The Codes also state the timeframes within which those targets must be attained.

According to the notice, the 0-6 year targets came into effect on 9 February 2012.

The new targets apply to those entities whose measurement date falls after 9 February 2012.

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