CLARITY ON MEASUREMENT DATE – CONSTRUCTION SECTOR CODE

The Construction Sector Charter Council recently released Practice Note 0002. It addresses an organisation’s measurement date exceeding 12 months beyond its Financial Year-end.

The Practice Note closes a loophole whereby B-BBEE Rating Agencies have sought to misinterpret the provisions of the Amended Construction Sector Codes of 1st December 2017 by verifying an organisation using a financial period that ended more than 12 months from the date of measurement.

The Technical Compliance Support Desk is available to assist members measured on the Construction Sector Code.