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 003 : Guidelines for Developing and Gazetting of Transformation Charters and Sector Codes

6. Variation of indicators in Codes 200 and 300
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6.1)A Sector Code may allow the use of indicators that differ from those contained in Codes 200 and 300 as a means of fixing the relevant Measurement Categories.

 

6.2)Sectors adopting this approach must:

 

6.2.1)consider using indicators that are consistent with the principles contained in the EE Regulations:

 

6.2.2)consider all relevant factors such as seniority, expertise, scarcity of skill-set, organisational role and responsibility and geographic location;

 

6.2.3)base the definition of occupational levels on sound and empirical research undertaken in the sector by a reputable institution; and

 

6.2.4)if the indicators Include salary scales, consider providing for a default cost of living or inflation adjustment in the salary scales, even If the sector intends to amend those salary scales annually.

 

6.3)The gazetting of a Sector Code does not affect any employer's obligations to comply with the EE Act and its regulations.