Paramount to the success of any B-BBEE Strategy is the holistic knowledge of the definitions and interpretations held in Schedule 1. The core reason is that definitions contained within other pieces of legislation, in some instances, differ from Schedule 1.
Schedule 1 directs that:
Interpretation of the Codes must be according to the provisions in Schedule 1 unless the context requires a different meaning.
In interpreting the provisions of the Codes, any reasonable interpretation consistent with the objectives of the Act must take precedence.
Words importing persons shall, where the context so requires or admits, include individuals, firms, partnerships, trusts, corporations, governmental bodies, authorities, agencies, unincorporated bodies of persons or associations and any organisation having legal capacity.
Technical Compliance Services are available to assist members with understanding definitions.
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