Legal Sector Code Officially Approved by Minister

The Minister of Trade, Industry, and Competition Minister, Parks Tau, has officially approved the Legal Sector Code in accordance with section 9(1) of the BBBEE Act. This development is set to advance BBBEE transformation in the legal sector, adhering to BBBEE requirements and aligning with the Government of National Unity’s (GNU) vision for inclusive growth.

Key Objectives of the New Legal Sector Code

The newly endorsed Legal Sector Code introduces a series of strategic targets aimed at significantly advancing BBBEE goals within the legal profession. The following objectives outline the specific areas of focus and commitment required to achieve these transformation goals:

1. 1. Ownership Targets: Achieve 50% ownership by black individuals and 25% ownership by black women over the next 5 years.

       

   2. Management Control: Set a target of 50% representation for black practitioners in executive and board roles, with a specific 25% target for black women practitioners, particularly in equity partner and associate positions.

       

   3. Skills Development: Allocate 3.5% of expenditure on training programs for black candidates. Focus will be on developing specialised skills for black legal practitioners, including those from marginalised groups such as black women, youth, individuals with disabilities, and those from rural areas.

       

   4. Procurement Targets: Establish a 60% procurement target by the private sector and an 80% target for specialised procurement in the public sector to ensure equitable access to legal services and support the sustainability of black Legal Sector Measured Entities (LSMEs).

Minister Tau highlighted that the implementation of this Legal Sector Code aligns with the BBBEE legislation and aims to enhance BBBEE compliance across the sector. He expressed optimism for the swift application of these new guidelines, emphasising their role in accelerating transformation and meeting BBBEE compliance standards.