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Zuma signs B-BBEEAB into law - DTI

Rob Davies
30 January 2014

Rob Davies says fronting is now a statutory offence

President Jacob Zuma signs the Broad-Based Black Economic Empowerment Amendment Bill 2013 in to Law

30 Jan 2014

President Jacob Zuma has signed into law the Broad-Based Black Economic Empowerment (B-BBEE) Amendment Bill 2013. The Minister of Trade and Industry, Dr Rob Davies says the signing of this Bill into law is significant, as this will streamline the monitoring and evaluation of empowerment.

According to Davies, the bill will significantly enhance the objectives of the B-BBEE Act No 53 of 2003.

"The amendments to the B-BBEE Act intend to achieve key strategic objectives, amongst others, to align the B-BBEE Act with other legislation impacting on B-BBEE and with the Codes; establishment of the B-BBEE Commission; provide for the regulation of the verification industry by the Independent Regulatory Board of Auditors; and deal with non-compliance and circumvention by, inter alia, introducing offences and penalties" he said.

Minister Davies stated that fronting as defined in the Act is now a statutory offence and those who are involved in fronting and convicted may be imprisoned for 10 years.

"We have introduced offences of the following acts of fronting, which include misrepresenting or attempting to misrepresent the B-BBEE status of an enterprise; and providing false information or misrepresenting information to the verification personnel in order to secure a particular B-BBEE status, among others. Yes any person convicted of an offence, in terms of the Act, is liable to a fine or to imprisonment for a period not exceeding 10 years or to both a fine and imprisonment", added Davies.

The Minister mentioned that the other achievement of the Act is the establishment of the B-BBEE Commission, which will play a critical role in overseeing, supervising and promoting adherence with the B-BBEE Act and Codes of Good Practice, in the interest of the public.

"The B-BBEE Commission will be given the task of acting without fear or favour independently. It will also strengthen and foster collaboration between the public and private sector in order to promote and safeguard the objectives of B-BBEE. Over and above the Commission will ensure that BEE activities in the country are aligned", highlighted Minister Davies.

The Act has been published in the Government Gazette No.37271 of 27 January 2014.

Broad-Based Black Economic Empowerment Amendment Act [No. 46 of 2013]

Statement issued by Department of Trade and Industry, January 30 2014

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 responses to this article

its becomming a joke acronym....
....b-beee-bbeee-bbbb-e......

.....hehehehehe...zuma....boooooooooooooooooooooooooooooooooooooooooooooooo

by onlooker on January 30 2014, 23:18
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Rob Davies
This Commie believes he is God who can make a Black man a white man by Decree,which is BBBE etc. It is simply not sensible to presume that White,s will willingly sacrifice themselves or their business and culture to give Blacks an unearned share. We . .more

by Ray Botha on January 31 2014, 02:59
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Fronting
Will Ziile get convicted for 10 years imprisonment for fronting a rented black woman from another party, who has no concern for her own party let alone the DA
Please arrest her and while she's away lets save the party and give Maimane, Muzibuko and de . .more

by Sandra on January 31 2014, 09:15
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Racist law.
Nazi Germany 1939. In SA does having a white skin replace the need to wear a persecution star Mr. Davies?

by Ben on January 31 2014, 12:28
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Teach a man how to fish..

But these S****** are merely providing the people with fish, that they have caught for the people.

But then, that is what they did for their fellow tribes-people, before the dreaded mulungus arrived in 1652 - introducing schools and teaching . .more

by Banana republic.. on February 01 2014, 12:58
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P
You can legislate all you want the fact remains you are all still arrogant useless parasites of note.

by Misanthrope on February 02 2014, 09:46
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