Trade and Industry Minister, Dr Rob Davies, said the signing into law of the bill by President Jacob Zuma was a significant step towards streamlining the monitoring and evaluation of empowerment.
The bill enhances and amends the B-BBEE Act No 53 of 2003.The amendments to the B-BBEE Act intend to achieve key strategic objectives, including aligning the B-BBEE Act with other legislation impacting on B-BBEE and with the Codes; establishing the B-BBEE Commission; providing for the regulation of the verification industry by the Independent Regulatory Board of Auditors, and dealing with non-compliance and circumvention by introducing offences and penalties.
(Source: SAnews.gov.za)
