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

Industry Charters

Forest Sector Charter

Tables

Table 1: Scorecard for Medium and Large Forest Enterprises

1. Ownership
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INDICATORS

WEIGHTINGS (W) & TARGETS (T)

Forest Sector

Sub-sector specific deviations

W

T

W

T
1.Ownership 2

20

 

 

 
1.1Exercisable voting rights in the Enterprise in the hands of black people

3

25%

+ 1

 

 
1.2Exercisable voting rights in the Enterprise in the hands of black women

2

10%

 

 
1.3Economic interest of black people in the Enterprise

3

25%

 

 
1.4Economic interest of black women in the Enterprise

2

10%

 

 
1.5Economic interest of the following natural people in the Enterprise:

2

7,5%

 

 
oBlack designated groups;

 

 

 

 
oBlack Participants in Employee Ownership Schemes;

 

 

 

 
oBlack beneficiaries of Broad-based Ownership Schemes; or

 

 

 

 
oBlack Participants in Cooperatives

 

 

 

 
1.6Realisation points for ownership fulfilment (refer to par. 10.1 of Code 100 Statement 100)

1

Yes

 

 
1.7Realisation points for net equity interest (refer to Annexe C par. 4 of Code 100 Statement 100)

7

Yes 3

 

 
1.8Bonus points for involvement in the ownership of the enterprise by black participants

1

10%

 

 
oIn Employee Ownership Schemes;

 

 

 

 
oOf Broad-based Ownership Schemes; or

 

 

 

 
oOf Cooperatives

 

 

 

 
1.9Bonus points for involvement in the ownership of the enterprise by black new entrants

2

10%

 

 
1.10Bonus point for achieving a higher target for indicator 1.3

1

30%

 

 
1.11Bonus point for achieving a high target for indicator 1.4

1

15%

 

 

 

 

2  Including the recognition of Ownership Contributions arising from Qualifying Ownership Transactions and recognition of Equity Equivalents for Multinationals

3 Compliance target for growers is based on full payment in equal trances over the crop rotation cycle, and not a ten-year repayment period that applies to the rest of the sector.