There are big changes afoot and Rob's leading the charge. He told us a few days ago that he was going to do this and he has now started. (Thanks Obed for sending me this).
NOTICE 88 OF 2011
(Government Gazette 34019)
DEPARTMENT OF TRADE AND INDUSTRY
AMENDMENT OF THE CODES OF GOOD PRACTICE PUBLISHED IN GAZETTE NUMBER 29617 ON 9 FEBRUARY 2007 IN TERMS OF THE BROAD - BASED BLACK ECONOMIC EMPOWERMENT ACT, 2003 (Act No. 53 OF 2003)
By virtue of the powers vested in me in terms of section 9 of the abovementioned Act, I, Dr. Rob Davies, hereby amend the Codes of Good Practice as set out in the Schedule.
(Signed)
Dr ROB DAVIES, MP
MINISTER OF TRADE AND INDUSTRY
GENERAL EXPLANATORY NOTE:
[ ] Words in bold type in square brackets indicate deletions from existing enactments.
Words underlined with a solid line indicate insertions into existing enactments.
SCHEDULE
1.
Amendment of paragraph 3 of Code 600, Statement 600 - The General Principles fur Measuring Enterprise Development Element
Paragraph 5 of Code 600. Statement 600 is hereby amended by the substitution for paragraph 3 2.8.3 of the following
"3.2.8,3 settlement of accounts with beneficiary entities over a shorter period of time in relation to the Measured Entity's normal payment period, provided the shorter payment period is no longer than [10] 15 days"
2.
Amendment of paragraph 2 of Code 600, Statement 600 - The General Principles for Measuring Enterprise Development Element
Paragraph 2 of Code 600. Statement 600 is hereby amended by the substitution for paragraph 2.2 of the following.
"2.2 the following table represents the criteria and method used for deriving a score for enterprise Development under this statement:
|
||
Criteria |
Weighting Points |
Compliance Target |
[Average annual] Annual value of all Enterprise Development Contributions and Sector Specific Programmes made by the Measured Entity as a percentage of the target. |
15 |
3% of NPAT |
3.
Amendment of paragraph 3 of Code 600, Statement 600 - The General Principles for Measuring Enterprise Development Element
Paragraph 3 of Code 600, Statement 600 is hereby amended by the substitution for paragraph 3.1.2 of the following:
"3.1.2 Qualifying Enterprise Development Contributions of any Measured Entity are recognisable [cumulatively] on an annual basis"
4.
Amendment of paragraph 2 of Code 700, Statement 700 - The General Principles for Measuring the Socio Economic Development Element
Paragraph 2 of Code 700. Statement 700 is hereby amended by the substitution for paragraph 2.3 of the following:
"2.3 The following table represents the criteria and method used for deriving a score for Socio Economic Development under this statement:
|
||
Criteria |
Weighting Points |
Compliance Target |
[Average annual] Annual value of all Socio Economic Development Contributions by the Measured Entity as a percentage of the target. |
5 |
1% of NPAT |
5.
Amendment of paragraph 3 of Code 700, Statement 700 - The General Principles for Measuring the Socio Economic Development Element
Paragraph 3 of Code 700. Statement 700 is hereby amended by the substitution for paragraph 3.1.2 of the following:
"3.1.2 Socio Economic Development Contributions of any Measured Entity are recognisable [cumutatively – (sic)] on an annual basts (sic again)"
6.
Amendment of paragraph 7 of Code 800, Statement 806 - Enterprise Development for QSE's
Paragraph 7 of Code 800, Statement 806 is hereby amended by the substitution for paragraph 7.1.2 of the following:
"7.1.2 The following table represents the criteria and method used for deriving a score for approved projects and enterprise development under this statement:
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Criteria |
Weighting Points |
Compliance Target |
[Average annual] Annual value of all Enterprise Development Contributions and Sector Specific Programmes made by the Measured Entity as a percentage of the target. |
25 |
2% of NPAT |
7.
Amendment of paragraph 8 of Code 800, Statement 807 - Socio Economic Development Contribution for QSE's
Paragraph 8 of Code 800, Statement 807 is hereby amended by the substitution for paragraph 8.1.2 of the following:
"8.1 2 The following table represents the criteria and method used for deriving a score for socio economic development under this statement:
|
||
Criteria |
Weighting Points |
Compliance Target |
[Average annual] Annual value of all Socio Economic Development Contributions by the Measured Entity as a percentage of the target. |
25 |
1% of NPAT |
Now here's a question. The DTI issued a tender for interested companies to provide a study of the codes (take a look at paragraph 2.1) – and Rob has already started amending. Can we assume that this work has already been done and that the tender was a mere formality. It seems VERY strange that Rob is on the amending path when he might have to change everything again in the next year. Hmmmmmmmmmmmmmmmmmmmmm
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