Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Broad-Based Black Economic EmpowermentAmended Property Sector Code9. Eligibility as a Qualifying Small Enterprises (QSE) |
| 9.1 | Measurement of B-BBEE in Qualifying Small Enterprises for the below mentioned property segments, will apply as shown in the table below. |
Qualifying Small Enterprises |
ASSET BASED |
SERVICE BASED |
ESTATE AGENCIES/BROKING/ VALUATION COMPANIES |
|
Net Assets |
Less than R400M |
|||
Annual Turnover |
Less than R50M |
Less than 35M |
| 9.2 | A QSE must comply with all of the elements of B-BBEE for the purposes of measurement. |
| 9.3 | Enhanced B-BBEE recognition level for QSE: |
| 9.3.1 | A QSE which is 100% Black owned qualifies for an elevation to Level One contributor of B-BBEE recognition level. |
| 9.3.2 | A QSE which is at least 51% Black owned qualifies for an elevation to Level Two contributor of B-BBEE recognition level. |
| 9.3.3 | QSEs mentioned under 9.3.1 and 9.3.2 above are only required to obtain a sworn affidavit or Certificate from the Companies and Intellectual Property Commission (CIPC) on an annual basis, confirming the following: |
| 9.3.3.1.1 | Annual total revenue based on the QSE threshold table above. |
| 9.3.3.1.2 | Level of black ownership. |
| 9.4 | Any misrepresentation in terms of Para 9.3 above constitutes a criminal offence as set out in the B-BBEE Act as amended. |