{"id":25341,"date":"2013-11-13T16:09:49","date_gmt":"2013-11-13T14:09:49","guid":{"rendered":"http:\/\/www.myza.co.za\/2013\/11\/bill-to-improve-monitoring-of-b-bbee\/"},"modified":"2013-11-13T16:09:49","modified_gmt":"2013-11-13T14:09:49","slug":"bill-to-improve-monitoring-of-b-bbee","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/bill-to-improve-monitoring-of-b-bbee\/","title":{"rendered":"Bill to improve monitoring of B-BBEE"},"content":{"rendered":"

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The adoption of the Broad-Based Black Economic Empowerment (B-BBEE) Amendment Bill will streamline the monitoring and evaluation of empowerment, says the Department of Trade and Industry (dti).<\/p>\n

In a statement on Tuesday, the dti said that the National Assembly had adopted the B-BBEE Amendment Bill 2012, and will send it to President Jacob Zuma for assent.<\/p>\n

The bill enhances and amends the B-BBEE Act No 53 of 2003.<\/p>\n

\u201cThe proposed amendments to the B-BBEE Act intend to achieve key strategic objectives, amongst others, to align the B-BBEE Act with other legislations impacting on B-BBEE and with the Codes; establishment of the B-BBEE Commission; provide for the regulation of the verification industry by the Independent Regulatory Board of Auditors; and deal with non-compliance and circumvention by, inter alia, introducing offences and penalties\u201d said Trade and Industry Minister Dr Rob Davies.<\/p>\n

The B-BBEE Commission, which is proposed in the amendment bill, will play a critical role including, but not limited to, overseeing, supervising and promoting adherence with the B-BBEE Act and Codes of Good Practice, in the interest of the public.<\/p>\n

It will also strengthen and foster collaboration between the public and private sector in order to promote and safeguard the objectives of B-BBEE.<\/p>\n

Davies said that the proposed B-BBEE Commission will ensure that BEE activities in the country are aligned.<\/p>\n

He added that the bill did not leave room for fronting, as those who are involved in fronting and convicted may be imprisoned for 10 years.<\/p>\n

\u201cThe bill introduces offences of the following acts of fronting, which include misrepresenting or attempting to misrepresent the B-BBEE status of an enterprise; and providing false information or misrepresenting information to the verification personnel in order to secure a particular B-BBEE status, among others.<\/p>\n

\u201cAny person convicted of an offence, in terms of the bill, is liable to a fine or to imprisonment for a period not exceeding 10 years or to both a fine and imprisonment.\u201d \u2013 SAnews.gov.za<\/p>\n

Editor:<\/strong> But will it lead to job creation and better service?<\/em><\/p>\n