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dti: Minister Davies gazettes the Threshold for Major B-BBEE Transactions

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dti: Minister Davies gazettes the Threshold for Major B-BBEE Transactions

Trade and Industry Minister Rob Davies
Photo by Duane
Trade and Industry Minister Rob Davies

13th June 2017

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/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

The Minister Trade and Industry, Dr Rob Davies has gazetted the Threshold for Major B-BBEE Transactions which must be submitted to the Broad-Based Black Economic Empowerment (B-BBEE) Commission in terms of Section 13F (1) (f) of the Broad-Based Black Economic Empowerment Act 53 of 2003 as Amended by Act 46 of 2013 as well as Section 18 of the B-BBEE Regulations.

All Transactions with a Value that equals or exceeds R25 Million as per Code Series 100, Statement 100 of the Amended Codes of Good Practice must be registered with the B-BBEE Commission.

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Transactions concluded before the 24 October 2014 may be voluntarily registered with the B-BBEE Commission. The Threshold excludes Transactions under Code Series 100, Statement 103 of the Amended Codes of Good Practice.
The B-BBEE Commission will prescribe the documentary requirements in order to Register the Transaction with the B-BBEE Commission.

"A Major B-BBEE Transaction” means any transaction between entities/parties that result in Ownership Recognition in terms of Statement 100. The Threshold of registering the Transaction with the B-BBEE Commission is based on the Transaction Value excluding administration, professional and legal fees.

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For Statement 102, Transaction Value means the value of the Sale of Asset/Business/Equity Instrument.

Click the link to access the gazette: http://www.thedti.gov.za/gazzettes/40898.pdf

 

Issued by Departmen tof Trade and Industry

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