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.

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.

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