Examples of B-BBEE Act in a sentence
This B-BBEE Act is implemented, and its implementation is measured, through a balanced scorecard found in the B-BBEE Codes of Good Practice.
As part of this initiative, the National Government enacted the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003) (B-BBEE Act), which came into effect in April 2004.
The B-BBEE Act provides for the DTIC to publish and promote any transformation charter (for later development into industry codes) for a particular sector of the economy, provided that charter (or sector code) is developed by the major stakeholders in that sector and advances the objectives of the B-BBEE Act.
The B-BBEE Act requires that every organ of national and local government and every public entity apply B-BBEE the relevant Codes in issuing licenses, implementing procurement policies, determining qualification criteria for the sale of state-owned enterprises and developing criteria for entering into public private partnerships.
Public Entities and State Agencies The B-BBEE Act places a legal obligation on state agencies to contribute to B-BBEE, including when developing and implementing their preferential procurement policies.