Jan 30, 2014
Zuma signs BBBEE Amendment Bill into lawBack
Jacob Zuma|Joanmaraie Fubbs|Rob Davies
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“The amendments will also deal with noncompliance and circumvention by, inter alia, introducing offences and penalties,” he commented.
“We have introduced offences for acts of fronting which include misrepresentation, or attempting to misrepresent the BBBEE status of an enterprise, as well as providing false information or misrepresenting information to the verification personnel to secure a particular BBBEE status.
“Any person convicted of an offence, in terms of the Act, is liable to a fine or to imprisonment for a period not exceeding ten years, or to both a fine and imprisonment,” he said.
Responding to the announcement, the Portfolio Committee on Trade and Industry chairperson Joanmarie Fubbs said the committee welcomed the amendments to the Act, stating that the amended legislation would significantly transform the economy and enable a more inclusive society.
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