Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Broad-Based Black Economic EmpowermentProperty Sector Charter9. Management Control |
| (9.1) | Black people, black women and designated groups continue to be under-represented at board level and in executive management in the sector. |
| (9.2) | Enterprises in the sector therefore commit to achieve the following minimum targets over ten years: |
| (9.2.1) | 50% of voting rights for black people at board level, using adjusted recognition for gender; |
| (9.2.2) | 50% black executive directors, using adjusted recognition for gender; |
| (9.2.3) | 40% black Senior Top management level, using adjusted recognition for gender; |
| (9.2.4) | 40% black other Top management level, using adjusted recognition for gender. |
| (9.3) | Recognising that residential estate agencies do not differentiate various board level participation, residential estate agents in the sector commit to achieve the Board participation targets only in line with the Code 200 below. |
CODE 200: MANAGEMENT CONTROL SCORECARD
CATEGORY |
MANAGEMENT CONTROL INDICATOR |
WEIGHTING POINTS |
COMPLIANCE TARGET |
Board publication |
Exercisable Voting Rights of black Board members who are black using the Adjusted Recognition for Gender |
3 |
50% |
Black Executive Directors using the Adjusted Recognition for gender |
2 |
50% |
|
Top Management |
Black Senior Top Management using the Adjusted Recognition for genders |
3 |
40% |
Black Other Top Management using the Adjusted Recognition for genders |
2 |
40% |
|
Bonus |
Black Independent Non-Executive Board Member |
1 |
40% |