Revised BEE codes raise eyebrows

[gregmcc]

http://www.fin24.com/Economy/Revised-BEE-codes-raise-eyebrows-20121003

Revised black economic empowerment codes could prejudice some companies, corporate law firm Webber Wentzel said on Tuesday.

The revised broad-based black economic empowerment codes "contain a controversial amendment which could result in a reduction (in) companies' empowerment ratings," the firm said in a statement.

"For example, a large company that may have seven percent black ownership, but is a level three contributor, will be automatically reduced to a level five contributor because it does not meet the 10% minimum black ownership target," Patel said.

The public had 60 days to submit comments on the codes before they were finalised.

Here we go again! :wtf:

 

[blunomore]

http://www.fin24.com/Economy/Revised-BEE-codes-raise-eyebrows-20121003





Here we go again! :wtf:

60 days seem ample time to me for comments.