03 Mar Revised BEE Codes of Good Practice – Extension
You may not have heard the exciting news as yet that the DTI announced recently that the implementation date for the Revised BEE Codes of Good Practice have been extended to 30th April 2015. The implication of this Gazette is that you will be measured on the Revised Codes of Good Practice when you have a financial year end after that date.
So if your Financial year end is 28 February 2015 you could still choose to be measured on the existing Codes. In your 2016 verification, using the February 2016 financials, you would need to be measured on the Revised Codes. This extension has been granted by the DTI to allow the various Sector Charter Councils to revise all the sector codes to fall in line with the criteria in the Revised BEE Codes of Good Practice. It is also believed that the new QSE Scorecard will be Gazetted later this year.
Based on the Revised BEE Codes, if you are a Qualifying Small Enterprise, you are required to comply with all 5 elements, one of which is Skills Development. The following criteria must be fulfilled in order for a company to receive points on the Skills Development Scorecard:
- A Workplace Skills Plan, an Annual Training Report and a Pivotal Report must be submitted to your SETA and be approved.
- You must have implemented a Priority Skills program generally and more specifically for Black People. Priority Skills for your sector are listed in the above Annual Training Report.
These criteria have only been applied to Generic Companies in the past, but under the Revised BEE Codes, even Qualifying Small Enterprise Entities will have to comply with these criteria.
Registering with your SETA can be a lengthy process, and submitting the reports can be arduous and complicated. The submission window is usually 01 June to 30 June of each year. Preparing the report requires that some thought go into the type and amount of training which has taken place in the past year and what is planned for the year to come. You really only have two months left to complete the preparation of this process so we urge you not to delay in any way.
If you need assistance in regards registering your company with the SETA or in the preparation of the Annual Training Report, Workplace Skills Plan and Pivotal Report, please feel free to contact our offices and we will have our BEE Consultant, Mr Toby Rochat call on you to provide you with more information.