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Dti withdraws change to BEE codes

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Dti withdraws change to BEE codes

by South African Government News Agency
29 Nov 2012
South African Government News Agency
South African Government News Agency

The Department of Trade and Industry has withdrawn proposed changes to the Broad - Based Black Economic Empowerment (BBBEE) codes on socio-economic development



"The DTI announces the withdrawal of Statement 500 of gazette number 35754 issued on 5 October 2012- Revised Broad Based Black Economic Empowerment Codes of Good Practice," it said on Wednesday.

The decision came after several stakeholders expressed concern that Statement 500 has been interpreted to mean that charities will be adversely affected which resulted in rising anxiety for charity and beneficiary organisations.

"The fact that the dti announced previously that the department will correct any unintended interpretation upon completion of the public consultation period, has not eased this anxiety," the department said.

The consultation period closes on Wednesday, 5 December 2012.

"The department therefore concluded that withdrawing the Statement immediately would be the most appropriate response. In practice this means no change to the socio economic developments elements," it added.

Previously the department had clarified media reports that Statement 500 could ruin charities. Media had reported that charities could face ruin over a government proposal that firms could lose BEE points if they donate to charities that do not have 100% black beneficiaries.

Reports were that some charities believe the proposal means that any firm that donates to a charity that helps a white, coloured or Indian person may not be able to claim points for its BEE scorecard. - SAnews.gov.za


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