Avoid these four new B-BBEE offences or face 10 years in jail!
One of the offences for BEE is fronting. Fronting is when a company gives false information in their BEE empowerment status to win tenders.
This is a criminal offence. And if you're found guilty, you could face up to 10 years in jail or pay a fine of 10% of your turnover.
Under fronting, there are other different sub-offences that could land you in hot water. Keep reading below to see four new offences under the B-BBEE Amendment Bill...
Will your company be able to do business after 1 May 2015?
B-BBEE codes are changing, and come 1 May 2015 your company could find itself unable to do business with ANY BEE-compliant company because its BEE level has dropped significantly.
Do you know how to avoid this?
There's a simple way to ensure a smooth transition.
Four new fronting B-BBEE offences you must avoid
Under the Amendment Bill it's now an offence:
To lie, or try lie, about your B-BBEE status;
To give fake information to the Verification Personnel to get a particular B-BBEE status;
To give fake information to anyone who needs to assess your B-BBEE status; and
For a B-BBEE Verification Professional, procurement officer or other official of an organ of state or public entity, to fail to report an offence they find.
If you're accused of any of these offences, the B-BBEE commission will look into charges of fronting, either on its own, or after it gets complaints. If you're guilty of fronting, you'll face up to 10 years in jail and/or a fine of 10% of your turnover. So make sure you avoid these offences at all costs.
If you would like more information on fronting or other B-BBEE related topics, turn to chapter B01: Broad based black economic empowerment in your Practical Guide to Human Resources Management loose leaf. If you don't have a copy yet, click here.
Or simply join us at the B-BBEE Amended Codes workshop where BEE expert, Thembi Chagonda, will show you how to practically implement the new B-BBEE codes. Remember, you only have until 1 May 2015 to comply with the amended codes. More details available here