Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Broad-Based Black Economic EmpowermentAmended Property Sector CodeStatement 000: General Principles and General Scorecard as applied to the Amended Property Sector Code7. Management Control |
| 7.1 | Black people, Black women and designated groups continue to be underrepresented at board level and in executive management in the sector. |
| 7.2 | Enterprises in the sector therefore commit to achieve the following |
| 7.2.1 | 50% of voting rights for Black people at board level; |
| 7.2.2 | 25% of voting rights for Black females at board level; |
| 7.2.3 | 50% Black executive directors as a percentage of all executive directors; |
| 7.2.4 | 25% Black female executive directors as a percentage of all executive directors; |
| 7.2.5 | 60% Black executive management as a percentage of all executive management; and |
| 7.2.6 | 30% Black female executive management as a percentage of all executive management. |
| 7.3 | All principles under Management Control that covers Board Participation and other Executive Management in the revised codes as amended from time to time (for both generic and QSE) are applicable. |
CODE 200A: MANAGEMENT CONTROLS GENERIC ENTITIES - 9 POINTS
MEASUREMENT CATEGORY & CRITERIA |
WEIGHTING POINTS |
COMPLIANCE TARGETS |
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2 |
50% |
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1 |
25% |
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2 |
50% |
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1 |
25% |
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2 |
60% |
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1 |
30% |
MANAGEMENT CONTROL BONUS POINT FOR GENERIC ENTITIES - 2 POINTS
MEASUREMENT CATEGORY & CRITERIA |
WEIGHTING POINTS |
COMPLIANCE TARGETS |
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Black executive directors as a percentage of all executive directors |
1 |
70% |
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Black female executive directors as a percentage of all executive directors |
1 |
35% |
| 7.4 | Recognising that residential estate agencies, Broking and valuation companies do not differentiate various board level participation, these segments therefore commit to achieve the board participation targets in line Code 200A as shown below. |
| 7.5 | In the Management Control, all entire Property Sector will not be broken down into the 6 demographic sub targets. |
MANAGEMENT CONTROL FOR ESTATE AGENCIES, PROPERTY BROKERS, VALUATION COMPANIES - 9 POINTS
MEASUREMENT CONTROL INDICATOR |
WEIGHTING POINTS |
COMPLIANCE TARGETS |
Board participation |
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Exercisable voting rights of Black Board members as a percentage of all voting Board members |
4 |
50% |
Exercisable voting rights of Black Female board members as a percentage of all voting Board members |
2 |
25% |
Other executive management |
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Black executive management as a percentage of all executive management |
2 |
60% |
Black Female executive management as a percentage of all executive management |
1 |
30% |
MANAGEMENT CONTROL BONUS POINTS FOR ESTATE AGENCIES, PROPERTY BROKERING, VALUATION COMPANIES - 2 POINTS
MEASUREMENT CATEGORY & CRITERIA |
WEIGHTING POINTS |
COMPLIANCE TARGETS |
Other executive management |
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Black Executive Management as a percentage of all executive Management |
1 |
70% |
Black Female executive Management as a percentage of all executive management |
1 |
40% |
CODE 702A: MANAGEMENT CONTROLS FOR QSE SCORECARD – 9 POINTS
MEASUREMENT CATEGORY & CRITERIA |
WEIGHTING POINTS |
COMPLIANCE TARGETS |
Executive management |
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Black representation at executive management as a percentage of all executive management |
4 |
50% |
Black Female representation at executive management as a percentage of all executive management |
2 |
25% |
Non-Executive management |
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Black representation at non-executive management as a percentage of all non- executive management |
2 |
60% |
Black Female representation at non-executive management as a percentage of all non-executive management |
1 |
30% |