Detail for GN000(a)

03 February 2022

RE-ISSUE - WITHDRAWAL OF THE GN000(a) GUIDANCE NOTE

The Financial Sector Transformation Council (FSTC) through its gazetted mandate as entailed

The Financial Sector Transformation Council (FSTC) through its gazetted mandate as entailed
in the B-BBEE Act, Section 9(1) has been empowered to preside on submitted exemption
applications against the backdrop of the advancement of the transformation imperatives of
the sector.
Within this context, the FSTC hereby re-issues a notice to inform financial institutions
reporting under the ambit of the FS Code that the FSTC will no longer be considering Group
Reporting applications in accordance with the withdrawn GN000(a) Guidance Note for the
exemptions on Group Reporting.
As an interim measure, all group reporting applications submitted in terms of Paragraphs 8.3,
8.4 and 8.5 by reporting entities will be dealt with in terms of provisions Section 10(4) of the
B-BBEE Act No. 46 of 2013 under the Generic Codes of Good Practice.
This notice will remain applicable until the conclusion of the FS Code Review Process,
culminating in a Section 9(1) amendment.
If you have any questions for further clarification,

please feel free to contact us on 011 838 6966 or tlagom@fstc.org.za. 

Yours sincerely,

FSTC Secretariat

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