Labour law update: The Amended QSE codes have finally been gazetted

Karin Iten, Fsp Business, 15 May. 2015

Tags: amended qse codes, qse codes, codes of good practice under section 9 (1) of the broad based black economic empowerment amendment act, broad based black economic empowerment, bbb-ee


We've been waiting a while, but it's finally over.

The DTI has released clarity on the Amended QSE Codes after gazetting them on 6 May 2015.

These new codes affect the Broad Based Black Economic Empowerment Amendment Act which came into effect earlier this month.

While labour experts are still trying to make sense of how these QSE codes will change the business landscape, here's a copy of the government gazette for you to look at as well as the most important aspects you should pay attention to.

 

Get your hands on the Amended QSE Codes here

 
As econobee.co.za explains: 'Now that the QSE Codes have been gazetted [it's clear that] with the right planning small businesses will still be able to achieve a [BBB-EE] compliant score.

A number of issues are covered in the gazette, including key concerns over the amended Scorecard for Qualifying Small Enterprises (QSE's) and amended Sector Codes.
 
And while it's important to note that these Amended QSE Codes apply to businesses with a turnover between R10 million and R50 million per annum, it's also crucial you know that the Amended Codes published last week contain clarification on:
 
  • Statement 003 - Guidelines for developing and gazetting sector codes
  • Statement 004 - Scorecards for Specialised Enterprises
  • Statement 102 - Recognition of the sale of Assets, equity instruments and other businesses
  • Statement 103 - The Recognition of Equity Equivalents for Multinationals
  • Code Series 600 - Qualifying Small Enterprises (QSEs) 
 
They also contain amendments to the recently Amended Codes including: 
  • Addition of a 5th Criterion for the Empowering Supplier
  • Verification adjustments for EME's
  • Discounting principle clarification
  • A complete change to the demographic calculation for Management and Skills Development
 
Watch this space as we reveal exactly how these codes affect your BBB-EE rating over the coming days. And while you do, you can download the full government gazette here.
 
PS: To find out how to easily implement all 26 Employment Equity Act amendments, get your hands on our Employment Equity Act Compliance Toolkit here. 
 



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