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The Property Sector Charter Council (PSSC) is a statutory body that was brought into being by the Department of Trade Industry and Competition (DTIC) gazette of Broad-based Economic Empowerment (B-BBEE) act on 2007 and revised in 2013 under gazette 37271 under statement 003.
The PSCC is one of twelve sector councils approved by the DTIC to drive transformation in their sectors, in particular for the PSCC in the property sector.
The PSCC is the only council that is authorised to provide necessary guidance on sector-specific matters affecting B-BBEE within the property sector, as well as adjudicate matters affecting the transformation of the property sector as captured in the Property Sector Code between any entity and B-BBEE professionals.
Legislation
Property Sector Code
The Property Sector Code has constituted a framework on which the B-BBEE transformation principles have been established and are being implemented in the sector as contemplated by the B-BBEE Act (No53 of 2003) and the DTIC Codes of Good Practice on B-BBEE. The Property Sector Code also forms the basis for the development of a code of good practice for the property sector as envisioned in Section 9(10) of the B-BBEE Act.
The Property Sector Code established targets and quantitative measures in respect of each element of the B-BBEE and outlines processes for implementing the commitments contained in the charter, as well as mechanisms to monitor and report on progress.
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