Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Sector Codes

Defence Sector Code

7. Commitment
Purchase cart Previous page Return to chapter overview Next page

 

7.1 The Stakeholders acknowledge that the SADI is vital for the maintenance of South Africa’s strategic capability and it plays a critical role in the country’s economic growth, through manufacturing and technological innovation.

 

7.2 The Stakeholders further acknowledge that B-BBEE is a business imperative which is essential for the sustainability and growth of the industry.

 

7.3 The Stakeholders therefore commit themselves fully:
7.3.1 to implementing the provisions of this Sector Code and the provisions of the Act in both substance and in form;
7.3.2 to creating an enabling environment for the proper implementation of the measures in this Sector Code;
7.3.3 to displaying the highest degree of good faith in all matters relating to the implementation of the Defence Sector Code and neither do anything nor refrain from doing anything that has the effect either directly or indirectly of hampering the implementation of this Sector Code; and
7.3.4 to complying fully with the provisions of the Act especially and without limitation to avoid practices that frustrate the implementation of the Act and Defence Sector Code including fronting.