The Board must identify whether a contractor who has applied for registration in the category contemplated in regulation 6(1)(b), can be classified as a potentially emerging enterprise by—
| (a) | identifying the principals who are previously disadvantaged persons; |
| (b) | establishing whether the principals who are previously disadvantaged persons own at least fifty percent of the enterprise; |
| (c) | establishing whether the principals who are previously disadvantaged persons possess and exercise— |
| (i) | the authority to manage the assets and daily operations of the enterprise; and |
| (ii) | appropriate managerial and financial authority in determining the policies and directing the operations of the enterprise. |
