Amended BEE Codes delayed for six months Dear Business Owner The dti has announced that the transitional period for the amended codes will be extended by a further 6 months. This means that the amended codes must be followed as from April next year. We thank the dti for reacting to requests to announce an extension early. It was obvious that the codes had to be given an extension, of at least 6 months. Implications: 1. If your year end is December 2014 or February 2015, you can be verified before April 2015 on the current gazetted codes. 2. The current codes follow a less stringent scorecard, and do not have the new points to levels table, or the priority element targets. 3. If you were planning to delay your verification to just before October 2014, to allow you to use the current codes, you should consider an earlier verification, such as April or May of 2014. This will allow you to be verified again next year, prior to April 2015 to again benefit from the 2007 codes. 4. There will probably not be a further extension to the codes, which means that for any financial year and verification after April 2015, you will follow the Amended codes. It is therefore still important to begin your planning of how you can comply and reach a good level once the Amended codes have kicked in. 5. The transitional period allows you to either follow the Amended codes or the 2007 codes up until April 2015. The amended codes do have some benefits to EMEs and QSEs, and we do recommend that those businesses that can benefit should be following the new codes. ________________________________________
Posted on: Sat, 15 Mar 2014 07:51:39 +0000
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