There have recently been many questions raised regarding the correct application and principles of the utilization of trusts within BEE transactions.
In terms of Section 9 of the B-BBEE Act 53 of 2003, it states in STATEMENT 100 which deals with ownership that:
Due to Lockdown, you have been forced over the past few months to close your place of business, now we are submerged into Level 3 of Lockdown, your business can presume. The questions we still receive is:
How do we go about implementing the required policies?
What steps do we need to follow?
Who should be responsible?
Who can help us?
Many employers have been waiting anxiously for the "re-opening" of the local economy. However, before level 3 lockdown workplaces could re-open their doors on the 1 June 2019, employers were faced with tremendous legal and logistical requirements around COVID-19 compliance.
Health and safety, privacy and human resources will abound, and further uncharted territories still lie ahead of us.
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