Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Code Series 000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000 : General Principles and Generic Scorecard

11. Transitional period
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11.1)For the first year after the commencement of this statement, a measured entity may elect to use –

 

11.1.1)the Generic Scorecard; or

 

11.1.2)the transitional scorecard.

 

11.2)Thereafter, all B-BBEE compliance measurement under the Codes for Medium and Large enterprises is subject to the use of the Generic Scorecard.

 

11.3)The transitional scorecard assigns a BEE Status based on the Ownership and Management Control of the entity calculated in terms of the formula below:

 

 

A = B x 1.92

Where:

 

A is the indicative BEE Status during the transitional period

 

B is the total score achieved under Code series 100 and 200