Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Services CharterCode Series FS100: Measurement of the Ownership Element of Broad-Based Black Economic EmpowermentStatement 100: The General Principles for Measuring Ownership12. The Bonus Points |
| 12.1 | The bonus points relating to paragraphs 2.8 and 2.9 of Table 2a are only available to domestic Measured Entities. |
| 12.1.1 | For avoidance of doubt all contributions that are considered as ownership (including Sales of Assets, Sales of Shares, Equity Equivalents and Indirect Ownership) shall count under paragraphs 2.7, 2.8 and 2.9 of Table 2a. |
| 12.2 | The bonus points relating to paragraph 2.2 of Table 2b are only available to local branches of foreign entities. Measured Entities that qualify as local branches of foreign entities may meet their entire ownership targets by applying Code series FS100, Statement 103. |
| 12.2.1 | To this end a foreign branch may receive a maximum of three bonus points should it satisfy its Equity Equivalent Contribution requirements (as per Code series FS100, Statement 103) by contributing the total required amount for B-BBEE transaction financing or other qualifying Equity Equivalents within the financial sector. Therefore, if a foreign branch funds transactions to the value of 12.5% in the financial sector it may receive 1.5 bonus points- [(12.5% / 25%) x 3]. |
| 12.2.2 | A Measured Entity with 25% black Economic Interest can receive a maximum of two bonus points for a 10% holding of Economic Interest by black new entrants. |
| 12.2.3 | A Measured Entity with 25% black Economic Interest can receive a maximum of one bonus point for a 10% holding of Economic Interest by Black Participants in: |
| 12.2.3.1 | Employee Ownership Schemes; |
| 12.2.3.2 | Broad-Based Ownership Schemes; and |
| 12.2.3.3 | Co-operatives. |