According to a report by Carol Paton in BDlive today the Department of Trade and Industry surprised business by issuing a “clarification notice” that individual share ownership will now count more that broad-based empowerment and employee share ownership schemes on the BEE scorecard. This has ‘astounded lawyers and verification agencies and will substantially alter the ratings of companies that have placed a portion of their ownership in the hands of employees or community organisations’. Follow the link to read the full article – BEE code change shocks industry.
