BEE Act definition

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

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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 Codes);

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

Examples of BEE Act in a sentence

In this Schedule, 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.
Should the Group undergo a drop in empowerment credentials or ratings under the BEE Act, the BEE Codes or otherwise then BLT and/or MS15 shall do all such things as may be required in order to rectify such situation.
The chairman of the Board shall be whomsoever of the directors Century should determine is the chairman, provided that if the chairman is one of the directors appointed by Century he is a black person as contemplated in the definition of “black people” in the BEE Act and if the chairman is one of the directors appointed by Winlen he may be any one of the directors appointed by Winlen.

More Definitions of BEE Act

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);

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

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 compliant person; “BEE Codes” means the Broad-Based Black Economic Empowerment Codes of Good 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 [BEE Codes];(b) as regards a juristic person having a shareholding or similar member’s interest[s], one who falls within the ambit of the definitions of BEE controlled company or BEE owned company, using the [flow-through] principles for determining control or ownership as contemplated in the relevant BEE ownership scheme[BEE Codes];(c) as regards any other entity, any entity similar to a BEE controlled company or BEE owned company using the [flowthrough] principles for determining control or ownership as contemplated in the relevant BEE ownership scheme, [BEE Codes] 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 or applicable 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 beneficial owner warrants that he is a BEE compliant person;

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 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, 2003 and any regulations promulgated thereunder;

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