Broad Based Black Economic Empowerment Act (53/2003): Extension of transitional period
The Minister of Trade and Industry has amended the transitional period in respect of the new Broad-Based Black Economic Empowerment Codes of Good Practice, issued on 11 October 2013. The transitional period was initially indicated as a period of 1 year from the date of publication of such new BBBEE Codes of Good Practice and would have expired on 10 October 2014. It has now been extended until 30 April 2015. During the transitional period a measured entity may elect to have its BBBEE compliance measured in terms of the new BBBEE Codes of Good Practice, or the old BBBEE Codes of Good Practice of 2007.
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