\t\t\t<\/p>\n
Trade and Industry Minister Rob Davies has gazetted the Broad-Based Black Economic Empowerment Amendment Bill (BBBEEAB), which aims to align the B-BBEE Act with other legislations impacting on black economic empowerment.<\/p>\n
The amendments also aim to establish a B-BBEE Commission that will set up an institutional environment for monitoring and evaluating black economic empowerment. It also provides for the regulation of the verification industry by the Independent Regulatory Board of Auditors, while also dealing with non-compliance and circumvention by introducing offences and penalties.<\/p>\n
The Bill was tabled on Friday and the public has 60 days to comment on it.<\/p>\n
The gazetting of the Amendment Bill is the culmination of the recommendations made by the Presidential B-BBEE Advisory Council.<\/p>\n
\u201cThe B-BBEE Commission, which is proposed in the BBBEE Amendment Bill, will play a critical role including, but not limited to, oversee, supervise and promote adherence with the B-BBEE Act and Codes of Good Practice in the interest of the public, strengthen and foster collaboration between the public and private sector in order to promote and safeguard the objectives of B-BBEE; promote advocacy, access to opportunities, and educational programmes and initiatives of B-BBEE; and promote good governance and accountability by creating an effective and efficient environment for the promotion and implementation of B-BBEE,\u201d said Davies.<\/p>\n
The Bill leaves no room for fronting as those convicted of this may be imprisoned for 10 years.<\/p>\n
The Bill introduces offences in several acts of fronting, including misrepresenting or attempting to misrepresent B-BBEE status of an enterprise, and providing false 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; or to imprisonment for a period not exceeding 12 months or to both a fine and imprisonment; or to a fine of 10% of that enterprise\u2019s annual turnover,\u201d said Davies.<\/p>\n
The Bill also introduces inclusion of specific statutory offences involving fronting and other forms of fraudulent misrepresentation of empowerment status and the specification of penalties and blacklisting of entities and\/or management for those offences.<\/p>\n
The Bill makes provisions for empowering the Special Investigations Unit to investigate all offences involving fronting or corruption committed by both the public and private sector with regard to the application of the Act and B-BBEE Codes of Good Practice. \u2013 BuaNews<\/p>\n
Editor\u2019s Notes:<\/strong> As convinced as I am of the need to \u2018normalise\u2019 our society so too am I convinced of the abject failure of the various Double, Triple and Quadruple B\u2019s allied to various E\u2019s and Ammendments to ensure any lasting normalisation of our society. If you force children to play together they will seldom form lasting relationships \u2013 so too with the legislation that \u2018criminalises\u2019 companies that don\u2019t play together according to the rigid percentage guidelines as laid down by government.<\/p>\n This rigid set of guidelines has only served to ensure that we rigidly adhere to racial profiling in all that we do in a business or sport context. Surely the idea was to rather promote a non-racial, non-sexist society that adhered to excellence?<\/p>\n I notice a disturbing trend amongst the 20 to 30 year old white and coloured youth who are convinced that their black peers that went to the same \u2018good schools\u2019 as them are being favoured despite their lower academic prowess. Trying to explain that this is a process of normalising society just gets met with an angry reply of; \u201cI was a toddler in the dying days of apartheid, so why should I have to be punished!\u201d<\/p>\n So, what is the thinking man\u2019s alternative to BEE, then?<\/p>\n \t\t<\/p>\n","protected":false},"excerpt":{"rendered":" Trade and Industry Minister Rob Davies has gazetted the Broad-Based Black Economic Empowerment Amendment Bill (BBBEEAB), which aims to align the B-BBEE Act with other legislations impacting on black economic empowerment. The amendments also aim to establish a B-BBEE Commission that will set up an institutional environment for monitoring and evaluating black economic empowerment. It […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1289,5],"class_list":{"0":"post-6031","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-mype","8":"tag-port-elizabeth-2","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6031"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}