With the amendment of the (B-BBEE) act, the appeal by Oceana is strengthened.The amended act will actually force the different departments to use the measurement principles that are contained in the codes for their transformation policies. This means that all the broad-based elements shall be used unless there is justification for departure from the codes. The targets, the weightings and the thresholds of qualification criteria can be set by the industry, however, using the measurement principles of the broad-based BEE codes.
via www.iol.co.za
The Oceana case is interesting. Vuyo writes
The core of the case is actually the broad-based BEE codes of good practice that look at all the elements of broad-based BEE versus the narrow BEE view of ownership and management. The judge was persuaded by the arguments of the respondents why they could not use the broad-based codes as “it would undermine the long-term rights allocation and management process and the progress made to date with transformation and create new and difficult practical problems”. The judge stressed the policy states that the BEE codes may be taken into account in the application process but are not mandatory.
This last paragraph was the one that brought Vuyo to conclude that the BEE Bill is the panacea of all empowerment. Sorry Vuyo - you are not giving the public that complete story about the ridiculousness of the Bill and how it attempts to run roughshod over any other sensible piece of legislation, and justifies this under a flimsy recognition of the superiority of the Constitution (which the Bill violates in every possible way).
Contrary to Vuyo's glowing conclusion, I expect we will see the very same policies that are attached to those other pieces of legislation will miraculously become codes of good practice in terms of the B-BBEE Act and won't even vaguely resemble a code that we have come to know.
No Vuyo - this article is well below anything we've come to expect from you. It does expose the colours that you have nailed onto your mast. Would it be safe to assume that with your well declared alliances we cannot expect any logical argument from you again?
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