On Friday, 11 October 2013 the Department of Trade and Industry
released the revised Broad-Based Black Economic Empowerment Codes
of Good Practice ("the Final BEE
Codes"). It has been a long and anxious wait from 5
October 2012, when the proposed amendments to the BEE Codes were
first published for comment ("the Draft BEE
Codes").
There is a transitional period of 12 months, from the date of
promulgation of the Final BEE Codes until 11 October 2014, before
the Final BEE Codes are applicable, although entities who elect to,
may immediately use the Final BEE Codes to be measured, instead of
the BEE Codes of Good Practice promulgated on 7 February 2007
("the Old BEE Codes"). The Final
BEE Codes provide, however, that where a sector code has been
issued in terms of section 9 of the Broad-Based Black Economic
Empowerment Act No. 53 of 2003, then a measured entity who falls
within that sector may only be measured for compliance in
accordance with that specific sector
