The Broad Based Black Economic Empowerment Bill aims to promote greater racial equality and participation in the South African economy. It establishes an advisory council to support black economic empowerment. The bill's objectives are to transform the economy to enable meaningful black participation, increase black ownership and management of enterprises, promote investment programs, and empower rural communities. It allows the minister to issue codes of practice and publish sector charters to advance these objectives. The Department of Trade and Industry will provide funding and support services to the advisory council.
Goverment gazette barring whites from employment in South Africaboerentrepreneur
It's important to note that two Broad-Based Black-Economic Empowerment Acts bar the vast majority of white males (from 2003) and white females and the white disabled (from 2011) from the South African labour market.
Key Takeaways:
Understanding Finance Commission and its Functions
Assessment of Union and State Finances
Recommendations on Vertical and Horizontal Devolution
Allocation of Grants-in-aid to States and Local Bodies
Recommendations on Disaster Risk Management
Key Takeaways:
Impact of Covid-19 and Stimulus Package
Budget Philosophy and Strategy
Sectoral Allocations
Developmental Objectives and Measures
Key Statistics and Comparison with India
Goverment gazette barring whites from employment in South Africaboerentrepreneur
It's important to note that two Broad-Based Black-Economic Empowerment Acts bar the vast majority of white males (from 2003) and white females and the white disabled (from 2011) from the South African labour market.
Key Takeaways:
Understanding Finance Commission and its Functions
Assessment of Union and State Finances
Recommendations on Vertical and Horizontal Devolution
Allocation of Grants-in-aid to States and Local Bodies
Recommendations on Disaster Risk Management
Key Takeaways:
Impact of Covid-19 and Stimulus Package
Budget Philosophy and Strategy
Sectoral Allocations
Developmental Objectives and Measures
Key Statistics and Comparison with India
Aimed at helping investors and accelerating growth, the Government is planning new labour legislation that would merge 44 labour laws under four categories -- wages, social security, industrial safety & welfare, and industrial relations.
IMF World Economic Outlook - April 2020 (as updated by June 2020 Forecast)DVSResearchFoundatio
Key Takeaways:
- Global Prospects and Policies
- Deep Downturn in 2020 and Uncertain Recovery in 2021
- Policy Tracker on Responses to COVID-19
- Commodity Market Development and Forecasts
- Global Government Debt and Fiscal Deficits
A New Union Cabinet in 17th Lok Sabha has approved the Wages Code Bill on 3rd July 2019 with certain amendments to improve the ease of doing business and attract investment for spurring growth Government is planning to pass the bill in the ongoing session of Parliament.
The draft & the approved Bill is yet to be published.
Code on Wages - CoW - Avoidable row on New Wages Bill and Overhaul Minimum Wa...Thyagarajan Muralidharan
The historic labour reform bill has four parts. The first is Code on Wages or CoW bill. This impacts minimum wages which will impact every one of us as employee or employer or as a customer In this article I am arguing that there is no option for the government but to raise the min wages up significantly. My research shows that labour has been shortchanged and this has killed the Skill Movement in india. The new Code on Wages Bill must address the key problem of inconsistent minimum wage determination by the States. Please read and share your views.
A brief introduction to The Bill Code on Wages, 2019 Act. This will help people in various ways.
The Code has subsumed four labor laws -- Minimum Wages Act, Payment of Wages Act, Payment of Bonus Act and Equal Remuneration Act. After the enactment of the Code, all the four Acts stand repealed.
Its date of enforcement is yet to be notified in the Official Gazette, upon which, the Current Laws relating to wages will stand repealed.
The Indian Constitution incorporates a very elaborate scheme of centre state financial relations. Its chief characteristics are :-
The complete separation of taxing powers between centre and states
Tax sharing between the two
The allocation of funds to the state
2 The tax enumerated in the centre list are leviable by the centre exclusively.
The tax enumerated in the state list are leviable by the state exclusively
An unorganised worker is a home-based worker or a self-employed worker or a wage worker in the unorganised sector and includes a worker in the organized sector who is not covered by any of the Acts pertaining to welfare Schemes
Union Budget 2017 - A Pitchfork Partners AnalysisAshraf Engineer
Finance Minister Arun Jaitley presented a Union Budget of many firsts today. Apart from integrating the Rail Budget into itself, the presentation was advanced to February 1 to enable better operationalisation. Also, plan and non-plan classifications were eliminated for a holistic view of allocations.
The Budget was presented in the wake of demonetisation and all eyes were on what the government would do next. The finance minister focused on rural development and agriculture, while laying emphasis on tax compliance, affordable housing and social investment as part of a 10-point agenda.
Here's an overview and analysis of the Budget.
Aimed at helping investors and accelerating growth, the Government is planning new labour legislation that would merge 44 labour laws under four categories -- wages, social security, industrial safety & welfare, and industrial relations.
IMF World Economic Outlook - April 2020 (as updated by June 2020 Forecast)DVSResearchFoundatio
Key Takeaways:
- Global Prospects and Policies
- Deep Downturn in 2020 and Uncertain Recovery in 2021
- Policy Tracker on Responses to COVID-19
- Commodity Market Development and Forecasts
- Global Government Debt and Fiscal Deficits
A New Union Cabinet in 17th Lok Sabha has approved the Wages Code Bill on 3rd July 2019 with certain amendments to improve the ease of doing business and attract investment for spurring growth Government is planning to pass the bill in the ongoing session of Parliament.
The draft & the approved Bill is yet to be published.
Code on Wages - CoW - Avoidable row on New Wages Bill and Overhaul Minimum Wa...Thyagarajan Muralidharan
The historic labour reform bill has four parts. The first is Code on Wages or CoW bill. This impacts minimum wages which will impact every one of us as employee or employer or as a customer In this article I am arguing that there is no option for the government but to raise the min wages up significantly. My research shows that labour has been shortchanged and this has killed the Skill Movement in india. The new Code on Wages Bill must address the key problem of inconsistent minimum wage determination by the States. Please read and share your views.
A brief introduction to The Bill Code on Wages, 2019 Act. This will help people in various ways.
The Code has subsumed four labor laws -- Minimum Wages Act, Payment of Wages Act, Payment of Bonus Act and Equal Remuneration Act. After the enactment of the Code, all the four Acts stand repealed.
Its date of enforcement is yet to be notified in the Official Gazette, upon which, the Current Laws relating to wages will stand repealed.
The Indian Constitution incorporates a very elaborate scheme of centre state financial relations. Its chief characteristics are :-
The complete separation of taxing powers between centre and states
Tax sharing between the two
The allocation of funds to the state
2 The tax enumerated in the centre list are leviable by the centre exclusively.
The tax enumerated in the state list are leviable by the state exclusively
An unorganised worker is a home-based worker or a self-employed worker or a wage worker in the unorganised sector and includes a worker in the organized sector who is not covered by any of the Acts pertaining to welfare Schemes
Union Budget 2017 - A Pitchfork Partners AnalysisAshraf Engineer
Finance Minister Arun Jaitley presented a Union Budget of many firsts today. Apart from integrating the Rail Budget into itself, the presentation was advanced to February 1 to enable better operationalisation. Also, plan and non-plan classifications were eliminated for a holistic view of allocations.
The Budget was presented in the wake of demonetisation and all eyes were on what the government would do next. The finance minister focused on rural development and agriculture, while laying emphasis on tax compliance, affordable housing and social investment as part of a 10-point agenda.
Here's an overview and analysis of the Budget.
A LAW TO PROVIDE FOR PRUDENT MANAGEMENT OF THE STATE’S RESOURCES, ENSURE LONG – TERM MACRO ECONOMIC STABILITY, SECURE GREATER ACCOUNTABILITY AND TRANSPARENCY IN FISCAL OPERATIONS WITHIN A MEDIUM TERM FISCAL POLICY FRAME WORK AND THE ESTABLISHMENT OF THE FISCAL RESPONSIBILITY COMMISSION TO ENSURE THE PROMOTION AND ENFORCEMENT OF THE STATE’S ECONOMIC OBJECTIVES AND OTHER MATTERS CONNECTED THEREWITH.
Economics regulation of domestic and foreign exchange market.Shashank Katiyar
Economics regulation of domestic and foreign exchange market.National board of Micro, small and medium enterprises.Advisory committee,Memorandum of MSME,Measures for promotion and enhancement of competitiveness of MSME.
Ramanujan college , university of Delhi
1. REPUBLIC OF SOUTH AFRICA
BROAD BASED BLACK
ECONOMIC EMPOWERMENT
BILL
(As introduced in the National Assembly as a section 75-Bill; explanatory summary of Bill
published in Government Gazette No. of ) (The English text is the offıcial text of the Bill)
(MINISTER OF TRADE AND INDUSTRY)
[B —2003] ISBN 0 621
No. of copies printed .................................... 1 800
2. BILL
To establish a legislative framework for the promotion of black economic
empowerment; to empower the Minister to issue codes of practice and to publish
transformation charters; to establish the Black Economic Empowerment Advisory
Council; and to provide for matters connected therewith.
PREAMBLE
WHEREAS under apartheid, race was used to control access to South Africa’s
productive resources and access to skills;
WHEREAS South Africa’s economy still excludes the vast majority of its people from
ownership of fixed assets and the possession of advanced skills;
WHEREAS South Africa’s economy performs below its potential because of the low
level of income earned and generated by the majority of its people;
AND UNLESS further steps are taken to increase the effective participation of the
majority of South Africans in the economy, the stability and prosperity of the economy
in the future may be undermined to the detriment of all South Africans, irrespective of
race;
AND IN ORDER TO promote the achievement of the constitutional right to equality,
increase broad-based and effective participation of black people in the economy and
promote a higher growth rate, increased employment and more equitable income
distribution,
BE IT THEREFORE ENACTED by the Parliament of the Republic of South Africa,
as follows:—
ARRANGEMENT OF ACT
Sections
1. Definitions
2. Objectives of Act
3. Interpretation of Act
4. Establishment of Black Economic Empowerment Advisory Council
5. Constitution of and appointment of members of Council
6. Reimbursement of expenses
7. Codes of Practice
8. Status of Codes of Practice
9. Transformation Charters
10. Support services and funding of Council
11. Regulations
12. Short Title and Commencement
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Definitions
1. In this Act, unless the context indicates otherwise—
‘‘black people’’ is a generic term which means Africans, Coloureds and Indians
who are also South African citizens or permanent residents of the Republic;
‘‘Council’’ means the Black Economic Empowerment Advisory Council estab-lished
by section 4;
‘‘members’’ means members of the Council;
‘‘Minister’’ means the Minister of Trade and Industry;
‘‘organ of state’’ means an organ of state as defined in section 239 of the
Constitution;
‘‘prescribe’’ means prescribe by regulation; and
‘‘this Act’’ includes any code of practice, or regulation made thereunder.
Objectives of Act
2. The objectives of this Act are to—
(a) promote economic transformation in order to enable meaningful participation
of black people in the economy;
(b) achieve a substantial change in the racial composition of ownership and
management structures of existing and new enterprises;
(c) increase the extent to which communities, workers, collective enterprises and
cooperatives own and manage existing and new enterprises;
(d) promote investment programmes that lead to broad-based and meaningful
participation in the economy by black people in order to achieve sustainable
development and general prosperity; and
(e) develop rural communities and empower local communities by enabling
access to economic activities, land, infrastructure, ownership and skills.
Interpretation of Act
3. Any person applying this Act must interpret its provisions—
(a) to give effect to its objectives; and
(b) in conformance with the Constitution.
Establishment of Black Economic Empowerment Advisory Council
4. (1) The Black Economic Empowerment Advisory Council is hereby established.
(2) The Council must advise the President on black economic empowerment.
Constitution of and appointment of members of Council
5. (1) The Council consists of the President and such other Members as may be
determined by the Council’s constitution.
(2) The President is the chairperson of the Council.
(3) The Council may by resolution provide further for its constitution, the terms of
office of its members, quorums, procedures and any other matter affecting the carrying
out of its functions.
Reimbursement of expenses
6. The Minister may, with the concurrence of the Minister of Finance, determine the
reimbursement of expenses incurred by members of the Council.
Codes of practice
7. (1) The Minister may by notice in the Gazette issue codes of practice on black
economic empowerment that may include—
(a) the interpretation and definition of black economic empowerment;
(b) qualification criteria for preferential purposes for procurement and other
economic activities;
(c) indicators to measure black economic empowerment;
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(d) the weighting to be attached to black economic empowerment indicators
referred to paragraph (c);
(e) guidelines for stakeholders in the relevant sectors of the economy to draw up
transformation charters for their sector;
(f) a system for reporting on the implementation of black economic empower-ment
by organs of state, employers and other enterprises; and
(g) any other matter necessary to achieve the objectives of this Act.
(2) A code of practice issued in terms of subsection (1) may specify—
(a) targets consistent with the objectives of this Act; and
(b) the period within which those targets must be achieved.
(3) The Minister must, before issuing, replacing or amending a code of practice in
terms of subsection (1)—
(a) publish a draft code of practice in the Gazette for public comment; and
(b) grant interested persons a period of at least 30 days to comment on the draft
code of practice or amendment, as the case may be.
Status of codes of practice
8. Every organ of state must take into account any relevant code of practice issued in
terms of this Act in—
(a) determining qualification criteria for the issuing of licences, or other
authorisations in terms of any law; and
(b) developing and implementing a preferential procurement policy.
Transformation charters
9. The Minister may publish in the Gazette for general information and promote a
transformation charter for a particular sector of the economy that—
(a) has been developed by major stakeholders in that sector; and
(b) advances the objectives of this Act.
Support services and funding of Council
10. (1) The Department of Trade and Industry must provide the Council with the
necessary support services and funding out of money appropriated by Parliament for
that purpose.
(2) The funds referred to in subsection (1), must be utilised for—
(a) the establishment and operating costs of the Council; and
(b) the development and implementation of a communication plan.
Regulations
11. The Minister may make regulations with regard to any matter that it is necessary
to prescribe in order to ensure the proper implementation of this Act.
Short title and commencement
12. This Act is called the Broad Based Black Economic Empowerment Act, 2003, and
comes into operation on a date to be determined by the President by proclamation in the
Gazette.
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MEMORANDUM ON THE OBJECTS OF THE BROAD BASED
BLACK ECONOMIC EMPOWERMENT BILL
1. BACKGROUND
South Africa’s economy cannot operate to its full potential because the majority of
South Africans earn very low incomes and are still excluded from ownership of fixed
assets and the possession of advanced skills. This is to the detriment of all South
Africans and it is therefore necessary that steps are taken to increase the effective
participation in the economy by the majority of South Africans.
The Broad Based Black Economic Empowerment Bill (herein after referred to as ‘‘the
Bill’’) is one of a number of steps being taken by government to address the problem.
A Black Economic Empowerment Advisory Council (herein after referred to as ‘‘the
Council’’) is proposed as an advisory body. Support services and funding for the council
will be provided by the Department of Trade and Industry (herein after referred to as
‘‘DTI’’).
2. OBJECTS OF BILL
The term ‘broad based’ is used in the Bill’s title in that the Bill seeks to—
* broaden the entrepreneurial base;
* extend black participation in the economy as measured in terms of ownership,
management and skills development;
* develop local communities and employees; and
* reduce income inequalities and poverty.
The Bill’s objectives are to—
* promote economic transformation;
* change the racial composition of ownership and management structures of
existing and new enterprises;
* increase ownership and management by communities, workers and co-operatives;
* promote investment in black owned and managed enterprises;
* empower rural and local communities.
3. FINANCIAL IMPLICATIONS
It is envisaged that council members will not be remunerated except for disbursement
costs and that the establishment and operating costs of the council will be
accommodated in the DTI budget.
4. ORGANISATIONS CONSULTED
The following organisations were consulted:
Black Business Council
Black Business Working Group
Big Business Working Group
NEDLAC
5. CONSTITUTIONAL IMPLICATIONS
None.
6. COMMUNICATION IMPLICATIONS
It is recommended that the GCIS (Government Communication and Information
System) and DTI develop a comprehensive communication plan around Black
Economic Empowerment generally and this Bill in particular.
7. PARLIAMENTARY PROCEDURE
The State Law Advisers and the Department of Trade and Industry are of the opinion
that his Bill must be dealt with in accordance with the procedure established by section
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75 of the Constitution since it contains no provision to which the procedure set out in
section 74 or 76 of the Constitution applies.