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NAIONAL TREASURY PUBLISHES PPPFA REGULATIONS FOR COMMENT

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PROGRESS AND SHOCKS WITH THE MINING SECTOR CHARTER

SA MiningIn November 2015 we send out an e-mail brief about a Government Gazette stating that the Mining Sector has to have their Sector Charter aligned with the DTI Amended Codes of Good Practice by February 2017. We received confirmation last week that this process is well under way. This means that companies falling within the Mining Sector will one year from now have their own Sector Charter and be required to be verified under this Sector Charter.

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ALARMING NEW B-BBEE REGULATIONS

The draft regulations on the Broad-Based Black Economic Empowerment Act, 2003, gazette 99704, published on 17 February 2016 for 30 days comment contain some alarming new developments, which will severely impact on commercial activities in South Africa if they are implemented.

Here are some of them:

1) All organs of the state must develop a preferential procurement system for awarding tenders and qualification criteria for awarding licenses and other authorizations which:

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