ARTICLE · 11 OCTOBER 2012

Black Economic Empowerment - Revised BEE Codes

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The Department of Trade and Industry ("the Department") has embarked on a review of the black economic empowerment legislation.

South AfricaGovernment, Public Sector

Xolelwa Mthi

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The Department of Trade and Industry (“the Department”) has embarked on a review of the black economic empowerment legislation. On 9 December 2011, the Minister of Trade and Industry (“the Minister”) published, for public comment, the Broad-Based Black Economic Empowerment Amendment Bill 2011 (“the BEE Bill”). The BEE Bill introduces changes to the Broad-Based Black Economic Empowerment Act No. 53 of 2003 (“the BEE Act”), which includes inter alia criminalising fronting, the establishment of a BEE Commission and the establishment of a regulatory authority for the BEE verification industry. The 60 day period for commenting on the BEE Bill has closed and we await the promulgation of the BEE Bill into law.

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