Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Broad-Based Black Economic EmpowermentProperty Sector Charter7. Monitoring and Reporting |
| (7.1) | Each enterprise will submit a B-BBEE report annually to the Charter Council. The report, which will be publicly accessible, must contain the enterprise's scorecard, verified by an accredited BEE verification agency and an account of progress in achieving the qualitative undertakings outlined in the charter. |
| (7.2) | The first annual report will be for the enterprise's first full financial year after the effective date of the charter and must be submitted to the sector charter council within three months after the end of such financial year. |
| (7.3) | Once gazetted, the sector code will be binding and enforceable and the verification certificate acquired before the gazetting of the Property Sector Code will remain valid for 12 months. |
| (7.4) | The Sector Charter Council will comprehensively review progress on the implementation of the sector code after three (3) years from the effective date of this sector code. |
| (7.5) | The targets contained in the DTI codes will be valid for ten years. After five years a comprehensive review will be undertaken and further targets will be set. |
| (7.6) | Subject to any provisions to the contrary contained in the DTI Codes, the performance of small enterprises will be measured out of 107 points on the property sector charter scorecard. |