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

Amended Codes of Good Practice (2017)

Amended Code Series CSC100: Measurement of the Ownership Element of Broad-Based Black Economic Empowerment in the Construction Sector

Statement CSC100: The General Principles for Measuring Ownership

Annexe CSC100 (D)

2. Additional Criteria applicable to Trusts
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2.1 For a Measured Entity to obtain the maximum points on its Ownership scorecard from shareholding by a Trust, the Measured Entity must be in possession of a certificate issued by a competent person to the effect:
2.1.1 That the Trust was created for a legitimate commercial reason which must be fully disclosed; and
2.1.2 That the terms of the Trust do not directly or indirectly seek to circumvent the provisions of the Codes and the Act.