BEE Act definition

BEE Act means the Broad-Based Black Economic Empowerment Act 53 of 2003;

BEE Act means the Broad-Based Black Economic Empowerment Act, No. 53 of 2003 as amended from time to time;

BEE Act means the Broad-Based Black Economic Empowerment Act, 53 of 2003 and any regulations and codes of good practice published thereunder (including the BEE Codes);

Examples of BEE Act in a sentence

• Bidders who qualify as E MEs in terms of the B-B BEE Act must subm it a certificate i ssued by an Accounting Officer as contemplated in the CCA o r a Verification Agency accredited by SANAS or a Registered A uditor.Registered audit ors do not need to meet the prerequisite for I RBA’s approval for the purpose of conducting verification and issuing EMEs with B-BBEE Status Level Certificates.

• In this Section any term, defined in the Broad-based Black Economic Empowerment Act, No. 53 of 2003 ("BEE Act"), or in terms of any Codes of Good Practice issued in terms of Section 9 of the BEE Act, when used in the scorecard below shall have the same meaning as there defined, save where such meaning may be in conflict with the provisions of the Tourism BEE Charter and Scorecard, in which case the provisions of the Tourism BEE Charter and Scorecard will prevail.

• Initiatives which separate or divide enterprises solely as a means of ensuring eligibility as an EME, a QSFI or a start- up enterprise may constitute an offence and will be dealt with in accordance with the provisions as set out in the B-B- BEE Act as amended.

• Any other supplier may respond to the tenders, however cognizance with be given to the PPFA and the BEE Act when evaluating tenders.

• The 1994 Black Economic Empowerment (BEE) Act, which was expanded by the Broad- Based Black Economic Empowerment (BBBEE) Act of 2003 with the aim of advancing people disadvantaged by apartheid,112 is also a valuable piece of legislation used to empower people in the mining sector, among others.

More Definitions of BEE Act

BEE Act means the Broad-Based Black Economic Empowerment Act 2003 (Act No. 53 of 2003), as amended from time to time, and any rules, regulations or codes of good practice promulgated thereunder, including any sectoral charter applicable, as amended from time to time;

BEE Act means the Broad-Based Black Economic Empowerment Act, No 53 of 2003, as amended from time to time;

BEE Act means the Broad-Based Black Economic Empowerment Act,2003(Act No. 53 of 2003); “BEE certificate” means a certificate issued by a verification agency accredited by the accreditation body contemplated in the BEE Codes, certifying that the person identified in the certificate is a BEE compliantperson; “BEE Codes” means the Broad-Based Black Economic Empowerment Codes ofGood Practice gazetted from time to time under the BEE Act; “BEE compliant person” means as interpreted by the courts, from time to time –(a) as regards a natural person, one who falls within the ambit of the definition of “black people” in the relevant BEE ownership scheme;(b) as regards a juristic person having a shareholding or similar member’s interest, one who falls within the ambit of the definitions of BEE controlled company or BEE owned company, using the principles for determining control or ownership as contemplated in the relevant BEE ownership scheme;(c) as regards any other entity, any entity similar to a BEE controlled company or BEE owned company using the principles for determining control or ownership as contemplated in the relevant BEE ownership scheme, which would enable the issuer of securities owned or controlled by such entity to claim points or obtain similar BEE recognition attributable to the entity’s ownership of the securities pursuant to the BEE Codes orapplicable legislation imposing a BEE obligation; “BEE contract” means the prescribed contract which the proposed registered owner of BEE securities and, if the registered owner will act as a nominee on behalf of a beneficial owner, the proposed beneficial owner of those BEE securities must conclude, in terms of which, inter alia –(a) the registered owner or, if the registered owner will act as a nominee on behalf of a beneficial owner, the beneficialowner warrants that he is a BEE compliant person;

BEE Act means the Broad-Based Black Economic Empowerment Act, 2003 and any regulations promulgated thereunder;

BEE Act means the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, and any regulations promulgated thereunder;

BEE Act means the Broad-Based Black Economic Empowerment Act 53 of 2003 of South Africa, as amended;

BEE Act means the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, South Africa.