The Department of Trade and Industry published a notice today which provides that all major broad-based black economic empowerment (B-BBEE) ownership transactions, which have a transaction value equalling or exceeding ZAR 25 million, must be registered with the B-BBEE Commission.

The notice also provides that, retrospectively, all major B-BBEE ownership transactions concluded from 24 October 2014, until date of this notice, which have a transaction value equalling or exceeding ZAR 25 million, must be registered with the B-BBEE Commission within 60 calendar days of this notice.Please note that any major B-BBEE ownership transactions within the above threshold concluded before 24 October 2014 may voluntarily be registered with the B-BBEE Commission.

The prescribed form B-BBEE 18 is required to be completed and submitted to the B-BBEE Commission for registration of the above transactions. This form can be accessed on page 73 of the B-BBEE Regulations (Government Gazette no. 40053). Click here to access the gazette.

Click here to read the notice.

Safiyya Patel is available to speak to your team on the matter.