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Act 14 of 2007
Gazetted: Friday 7th March 2008
Commencement: Thursday 17th April 2008 (fixed in terms of section 1(2) by SI 63A/2008)
Amendments
1 By section 9 of General Laws Amendment Act, 2011 (No. 5 of 2011) with effect from 17th
May 2011 [the amendment is to section 3(6) by the deletion of "company" and the substitution
of "business"].
2 By section 27(1) of Finance (No. 3) Act, 2014 (No. 11 of 2014) “with effect from the 1st January 2015”. 1
INDIGENISATION AND ECONOMIC EMPOWERMENT ACT [CHAPTER 14:33]
Acts 14/2007, 5/2011, 11/2014,
ARRANGEMENT OF SECTIONS
PART I
PRELIMINARY
Section
1. Short title and date of commencement.
2. Interpretation.
111
Section 27(2), (3) and (4) of Act 11/2014 are also very important:
“(2) For the avoidance of doubt, it is declared that(a) the lndigenisation and Economic Empowerment (General) Regulations, 2010, published in
Statutory Instrument 21 of 2010, remain in force subject to such changes as may be required to
bring them into compliance with the amendments to the Indigenisation and Economic
Empowerment Act [Chapter 14:33] (No. 14 of 2007) made by this Act, including, where
appropriate, the substitution of the "line Minister" for the "Minister";
(b) indigenisation implementation plans approved under the aforementioned regulations on or
before the date of commencement of this Act shall, subject to subsection (3), be deemed to
have been approved by the appropriate line Minister as defined in subsection (1).
Note to (b): Act 11/2014 [“this Act”] was gazetted and came into force on 7th January 2015.
(3) If a business wishes to amend an indigenisation implementation plan referred to in
subsection (2)(b), the business may, no later than sixty days after the publication of the Gazette
notice referred to in section 3(6) of the Indigenisation and Economic Empowerment Act [Chapter
14:33] (No. 14 of 2007) as amended by this Act, submit a revised indigenisation implementation
plan to the line Minister who shall, no later than three months after the revised indigenisation
implementation plan submitted to him or her, by notice in writing to the business concerned, either
approve the revised indigenisation implementation plan submitted by the business or reject it.
(4) If a revised indigenisation implementation plan submitted to the line Minister in terms of
subsection (3) is rejected in terms of paragraph (b) of that subsection, the business concerned shall
have one more opportunity to submit another revised indigenisation implementation plan no later
than sixty days from the date when it is notified of the rejection, and subsection (3) shall apply to
such plan in the same way as it applied to the first revised indigenisation implementation plan
submitted by it.”