Ownership Verifications

An Ownership B-BBEE verification is conducted when a company requests an Ownership certificate. The Ownership verification is requested so that the company can have a certificate that reflects what their current Ownership structure is from a B-BBEE perspective. Only the Ownership element of the company will be verified. The certificate will show the voting rights and economic interest in the hands of Black people as defined by the Amended Codes of Good Practice or the Sector Charter Codes.

Step 1: Planning and Preparation

Complete online enquiry form and select which B-BBEE service is required

Receive an email with a quote from Premier Verification (within 24 hours of submission of enquiry)

Quote agreed, signed, and accepted by the client.

Signed quote is returned to Premier Verification (by email) from the client

On receipt of signed quote from the client, Premier Verification will email the Data Verification Pack with details of assigned Verification Analyst and the deposit invoice to the client

Step 2: Analysis

Client to complete the Data Verification Pack for the Ownership element. The pack must contain all the data relevant to the B-BBEE verification as this will form the basis of the verification

Submission of Data Verification Pack to the Verification Analyst. Along with the pack, the client must submit the First Phase data documents as prescribed in the data verification pack

Premier Verification Analyst to review the Data Verification Pack. The Verification Analyst will select sampling from that data and create a sampling pack for the client. Different documents will be requested as evidence, this will be dependent on what is required in line with the B-BBEE Codes of Good Practice, and where applicable, the Gazetted Sector Specific Codes

All evidence to be submitted to Premier Verification for review

Interviews to be set up for sampled employees. If a face-to-face interview is not possible on the day of the onsite, then a video call will be arranged. The video call will be recorded as evidence for SANAS

Only once all the required documents have been received and reviewed the Verification Analyst will schedule the onsite visit

Step 3: Verification

The onsite visit by the Verification Analyst will be held at the companies’ registered address. This is a SANAS requirement and must be held at the address on the CIPC/Company documents

The onsite is where all the Company information will be verified, and any outstanding interviews will be conducted by the Verification Analyst. Please note that the onsite will be the last time that interviews will be conducted

Should there be any outstanding documents, they must be submitted to the Verification Analyst before the file is closed out.

Any documents that are outstanding before the file is closed out, will unfortunately be disregarded and the claim will be adjusted to reflect only what has been verified by the Verification Analyst

The verification file will be submitted to the Technical Signatory for review

Step 4: Verification Outcome

Premier Verification will an Ownership certificate based on the findings of the B-BBEE verification

SAcoronavirus.co.za