Important definitions which are used in relation to BEE Verification follows:
B-BBEE- Broad-Based Black Economic Empowerment.
B-BBEE Act- Broad-Based Black Economic Empowerment Act, 53 off 2003, as amended by Act No. 46 of 2013.
Black People- A generic term which means African, people of Mix Race and Indians:
- Who are citizens of South Africa by birth or descent: or
- Who became citizens of South Africa by naturalization (I) before 27 April 1994 (II) or after 27 April 1994 and who would have been entitled to acquire citizenship by naturalization prior to that date.
Codes- The Codes of Good Practice including all statements as issued under Section 9 of the B-BBEE Act.
Companies Act- Companies Act, no. 71 of 2008 as amended or substituted.
DTI- Department of Trade and Industry.
EE Act- Employment Equity Act of 1998, as amended.
EME’s- Exempted Micro- Enterprises. EME’s qualify by default as a 100% contributor towards BEE.
Entity- Is a natural entity or legal or juristic person conducting a business, profession or trade in South Africa.
Start-Up Enterprise- A recently created or incorporated business entity that has been in operation for less than one year. It must also not consist of any new commissioned enterprises that is part of a pre-existing enterprises.
Target- Targets for the myriad of elements in the Generic and QSE (Qualifying Small Business) Scorecard.
Tender- A written proposal in a prescribed or stipulated manner in response to an invitation by a branch of the state for the purveying of goods, works, or services through the means of price quotations, promulgated competitive tendering processes or offers.