Definition in terms of the B-BBEE Codes of Good Practice of 11th October 2013 (BEE Codes 2013)
51% Black Owned
Means an Entity in which:
a) Black people hold at least 51% of the exercisable voting rights as determined under Codes series 100;
b) Black people hold at least 51% of the economic interest as determined under Code series 100; and
c) Has earned all the points for the Net Value under statement 100;
BizAdvance Consulting comments and references:
Relates to the Ownership element of the scorecard, Statement 100 page 14. Refer to clauses 220.127.116.11 page 18.
Relates to the Enterprise and Supplier Development scorecard, Statement 400 page 60. Refer to clause 2.1.4 page 62; Bonus points page 62; 3.7 page 65;
Also refer to Statement 100, clause 4.3.2 page 9, and 5.3.2 page 9.
Comments are based on the opinion of BizAdvance Consulting and may be subject to different interpretations and opinions by other parties. The comments and references are intended as a guide to readers but it is important that they are read in conjunction with the Codes and other related legislation. Please refer to our Disclaimer Policy.