Amendment to Code 300
The Amendment introduces:
The amendment is clear that there cannot be any ‘double accounting’ and the two spends must be separate.
The proposed amendment will result in the following Skills Development Scorecard
As far as we can see, these amendments will come into effect on the date that the final Gazette is published.
The consequence of this amendment is that these amendments will be effective to any rating happening after that date. Unfortunately that means that any measured entity using a year-end prior to the Gazette date will have to be measured in line with the new amendments, even though they will have not had any opportunity to comply with these amendments, which could lead to lower scores than initially planned.
For any queries regarding a B-BBEE Strategy including ownership structuring and skills development plans contact Oriole on 011 346 2422 or firstname.lastname@example.org