The threshold for the registration of "Major B-BBEE transactions" was published by the Department of Trade and Industry on 9 June 2017.
Accordingly, parties who enter into or have since 24 October 2014 entered into transactions resulting in ownership recognition with a transaction value of ZAR25 million or more (Major B-BBEE transactions), must register such transactions with the BEE Commission:
-
within 15 days if concluded after 9 June 2017; or
-
by 8 August 2017 if entered into between 24 October 2014 and 9 June 2017.
Anyone who thinks they may have been a party to such Major B-BBEE transaction should:
-
conduct a review of transactions entered into after 24 October 2014 to determine whether or not they are registerable transactions;
-
to the extent that any transaction meets the threshold, register the transaction collectively with all the parties to the transaction using prescribed Form B-BBEE 18. Practically it would be the measured entity who has claimed points under the transaction that would be the primary responsible reporting party.
