{"id":213691,"date":"2012-12-10T11:15:44","date_gmt":"2012-12-10T09:15:44","guid":{"rendered":"http:\/\/blog.expresspros.co.za\/?p=144"},"modified":"2012-12-10T11:15:44","modified_gmt":"2012-12-10T09:15:44","slug":"revised-broad-based-black-economic-empowerment-b-bbee-codes-of-good-practice","status":"publish","type":"post","link":"https:\/\/expresspros.co.za\/index.php\/revised-broad-based-black-economic-empowerment-b-bbee-codes-of-good-practice\/","title":{"rendered":"REVISED BROAD-BASED BLACK ECONOMIC EMPOWERMENT (B-BBEE) CODES OF GOOD PRACTICE"},"content":{"rendered":"<p>Cabinet noted the revised B-BBEE Codes of Good Practice 2012 and approved that these be published for public comment.<br \/>\nThe revised Codes will enhance the implementation of B-BBEE in a meaningful and sustainable manner, and contain principles and guidelines that will facilitate and accelerate the implementation of B-BBEE. The purpose of the Codes is to assist and advise the public and private sectors in the implementation of the B-BBEE Act.<\/p>\n<p>Key areas of refinement include:<\/p>\n<ul>\n<li>The generic scorecard has been reduced to five elements, with Employment Equity and Management Control being consolidated, and Preferential Procurement and Enterprise Development merged to form a Supplier Development Element;<\/li>\n<li>The points for Ownership have been broadened to include designated groups in the main points;<\/li>\n<li>Thresholds for Exempted Micro Enterprises (EMEs) and Qualifying Small Enterprises (QSEs) have been adjusted;<\/li>\n<li>All companies, except Exempted Micro Enterprises, will be required to comply with the five elements of the B-BBEE scorecard;<\/li>\n<li>The introduction of the priority elements: ownership, skills development and supplier development. Large enterprises are to comply with all three priority elements. The priority scores of entities that do not comply with sub-minimum requirements in each priority will be discounted;<\/li>\n<li>Entities that are 100% black-owned will qualify as Level 1;<\/li>\n<li>Entities that are more than 50% black-owned will qualify as Level 2;<\/li>\n<li>Updated framework for the accreditation of B-BBEE Verification Agencies to include the Independent Regulatory Body of Auditors;<\/li>\n<li>Skills Development Elements have been aligned to the New Skills Development Strategy and are to be outward focused; and<\/li>\n<li>Qualifying Small Enterprises (QSEs) must comply with all five elements on the scorecard.<\/li>\n<\/ul>\n<p>(Department of Labour)<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cabinet noted the revised B-BBEE Codes of Good Practice 2012 and approved that these be published for public comment. The revised Codes will enhance the implementation of B-BBEE in a meaningful and sustainable manner, and contain principles and guidelines that will facilitate and accelerate the implementation of B-BBEE. The purpose of the Codes is to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":104084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[32],"tags":[49,50,51,52],"class_list":["post-213691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation","tag-b-bbee","tag-bbbee","tag-bee","tag-codes-of-good-practice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>REVISED BROAD-BASED BLACK ECONOMIC EMPOWERMENT (B-BBEE) CODES OF GOOD PRACTICE - Express Employment Professionals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/expresspros.co.za\/index.php\/revised-broad-based-black-economic-empowerment-b-bbee-codes-of-good-practice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REVISED BROAD-BASED BLACK ECONOMIC EMPOWERMENT (B-BBEE) CODES OF GOOD PRACTICE - Express Employment Professionals\" \/>\n<meta property=\"og:description\" content=\"Cabinet noted the revised B-BBEE Codes of Good Practice 2012 and approved that these be published for public comment. 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