Business organisation Business Unity South Africa (Busa) on May 21 said it welcomes the recent publication of the Broad-based Black Economic Empowerment (BBBEE) Act practice note for rules for discretionary collective enterprises, which clarifies how discretionary collective enterprises, including broad-based schemes, employee share ownership programmes and trusts, besides others, should be treated in terms of BBBEE legislation.
"There has, in the recent past, been significant interpretative misalignment between stakeholders, impacting negatively on the development of new schemes and inward investment.
"Busa, therefore, commends the practice note and looks forward to enhanced policy certainty and a more collaborative approach between the the Department of Trade, Industry and Competition, the BBBEE Commission and corporate South Africa."