The Broad-Based Black Economic Empowerment Amendment bill (“the Bill”) which was gazetted by the Minister of Trade and Industry on the 7th of December 2011 has not yet seen the light of day but is well worth knowing as its promulgation into an act of parliament, which is envisaged for the end of 2012, will have far reaching consequences for businesses in South Africa. This Bill seeks to amend the Broad Based Black Economic Act 23 of 2003 („the Act”) in six broad measures. These broad measures are discussed in detail below.
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Prepared by Lisa Jana of BKM Attorneys
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