On 2 November 2015, the Department of Trade and Industry released a statement that Sector Charter Councils have until 15 November 2015 to submit aligned Sector Codes for approval to the Minister of Trade and Industry, and that all existing Sector Codes that have not submitted application for approval to the Minister to be aligned with Broad-Based Black Economic Empowerment Codes of Good Practice, 2013 will be repealed.
The statement also provides that once Sector Codes are repealed, entities operating in the affected sectors will be required to use the Broad-Based Black Economic Empowerment Codes of Good Practice, 2013 for measurement.
This statement has implications for those Sector Codes in respect of which the process of alignment is unlikely to be completed by 15 November 2015.
For more information please contact:
T +27 (0)11 562 1800
T +27 (0)21 405 6010