Article shared courtesy of: Webber Wentzel
POPIA-has-unexpected-implications-for-B-BBEE-Schemes
“Sharing personal information of trust beneficiaries to verify black ownership
under the scorecards requires companies and trusts to be aware of POPIA
requirements.
Under the Codes of Good Practice for Broad-based Black Economic Empowerment, issued in terms of the Broad-Based Black Economic Empowerment Act 53 of 2003 (B-BBEE Act), an enterprise must maintain a scorecard showing, inter alia, how it is achieving black ownership targets. The measured entity can earn B-BBEE points on the scorecard, as part of the ownership element, for some collective investment ownership structures. These structures include Employee Share Ownership Schemes (ESOPs) and Broad-Based Ownership Schemes (BBOS)…”
POPIA-has-unexpected-implications-for-B-BBEE-Schemes
