Recent High Court Ruling has Major Implications
Has the directive issued by SANAS on 06 April 2021 entitled “Clarity on Measuring Period” negatively affected your recent verification?
Earlier this year, we sent out a newsletter and article requesting clarity regarding this very SANAS letter.
The High Court has subsequently passed a ruling (on 11 March 2022), in which it is declared that:
SANAS has no power, in terms of the Broad-Based Black Economic Empowerment Act No 53 of 2003 or any other legislative instrument, to prescribe the measurement period that must be taken into account, when verifying an enterprise’s compliance with the codes of good practice as issued under the aforementioned B-BBEE Act!
This has major implications for any organisation who may have undergone a recent verification, and may mean that your level could be positively impacted!
We are waiting on official word from the DTI or SANAS with regards to the impact of this case. But it is clear judicial precedent has been set.
Would you like assistance to review your position / verification post the High Court ruling? Please feel free to reach out to us on 011 483 1190 or firstname.lastname@example.org if you would like to hear more.
When it comes to understanding the B-BBEE legislation and implementing the interpretation thereof, EconoBEE is dedicated to coming up with innovative transformation strategies for our clients that make business sense.