Withdrawal of Revised BBBEE Codes of Good Practice:

Great News for NSRI and other charities: The Department of Trade and Industry (the dti) has announced the withdrawal of Statement 500 of gazette number 35754 issued on 5 October 2012- Revised Broad Based Black Economic Empowerment Codes of Good Practice.A big thank you to all our supporters who took the time to write objections - you have made a real difference to Sea Rescue.The DTI decision comes after several stakeholders expressed concern that Statement 500 has been interpreted to mean that charities will be adversely affected, resulting in rising anxiety for charity and beneficiary organisations. The fact that the dti announced previously that the department will not “raise the bar” and correct any unintended interpretation upon completion of the public consultation period closes on Wednesday, 5 December 2012, has not eased this anxiety. The department therefore concluded that withdrawing the Statement immediately would be the most appropriate response.In practice this means no change to the Socio Economic Developments elements.You can see our original call for help here.