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ARTICLE · 02 NOVEMBER 2015

BEE "Trumping Provision" In Force And Effect

ENS
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The controversial so-called trumping provision of the Broad-Based Black Economic Empowerment Amendment Act 46 of 2013 has come into force and effect as of 24 October 2015...

South AfricaCorporate/Commercial Law
Sanjay Kassen
Sanjay Kassen
Parusha Desai Valodia
Parusha Desai Valodia
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The controversial so-called trumping provision of the Broad-Based Black Economic Empowerment Amendment Act 46 of 2013 (the "Amendment Act") has come into force and effect as of 24 October 2015, following an announcement by the Minister of Trade and Industry on 23 October 2015.

The trumping provision stipulates that in the event of any conflict between the Broad-Based Black Economic Empowerment Act 53 of 2003 (the "BEE Act") and any other law in force immediately prior to the date of commencement of the Amendment Act, the BEE Act will prevail if the conflict relates to a matter dealt with in the BEE Act. This means that, for example, to the extent that any sector code is not aligned with the new Amended Codes of Good Practice, all applicable entities under such sector will be measured in terms of the Amended Codes of Good Practice.

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