Ownership is a priority element for both QSE’s and Large Enterprises. The ownership scorecard percentage has not changed and remains at 25% for 25 points. To avoid being discounted by 1 level, the Measured Entity must score at least 40% of the annual target for Net Value based on time graduation factor.
|VOTING RIGHTS||Exercisable voting rights in the Entity in the hands of black people||5||25% + 1 vote|
|Exercisable voting rights in the Entity in the hands of black women||2||10%|
|ECONOMIC INTEREST||Economic Interest of black people in the Enterprise||5||25%|
|Economic Interest of black women in the Enterprise||2||10%|
|Any of the following:
• Black designated groups
• New Black entrants
|REALISATION POINTS||Net Value||8||Time based graduation factor|
MANAGEMENT & CONTROL
The Codes previously included 2 elements: Management Control (MC) and Employment Equity (EE), these have now been consolidated into one element, but with significantly the same indicators. Previously Management Control and Employment Equity were worth 50 points combined and now based on the Revised Codes of Good Practice, this element is only worth 15 points for QSE’s.
|EXECUTIVE MANAGEMENT||Black representation at Executive Management||5||50%|
|Black female representation at Executive Management||2||25%|
|NON-EXECUTIVE MANAGEMENT||Black representation at Non-Executive Management||6||60%|
|Black female representation at Non-Executive Management||2||30%|
The Skills Development points remain at 25 points for QSE’s and is an elective priority element. The required spend for the leviable target has increased from 2% to 3%, and only spend is considered and not the number of learners on learnership programmes, which means that learnerships for QSE’s are not compulsory. QSE’s will need to score a sub-minimum of 40% of the total number of points available to avoid the discounting principle.
|EXPENDITURE||Skills Development expenditure on Learning programmes specified in the Learning Programme Matrix for Black people as a % of leviable amount||20||3%|
|Skills Development expenditure on Learning programmes specified in the Learning Programme Matrix for Black female people as a % of leviable amount||5||1%|
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DISCLAIMER – All information supplied herein is intended to be used solely as a guide. HRS Group does not accept any responsibility or liability for any outdated information. Readers are encouraged to contact our professionals directly for further advice.
Sources: Government Gazette 38766