... is the Broad-Based Black Economic Empowerment Bill, B42B- 2012, dated 23 May 2013. I want to say at the outset that black economic empowerment is an important economic imperative. The political freedom that the 1994 democracy ushered in was essential, but, sadly, not sufficient. What it has done is to delay, to a certain extent, the deracialisation of the South African economy and the effective active participation of black people in the economy. We believe that this can no longer be delayed.
Most unfortunately, clause 1(b) in the Bill, which the hon Radebe will expand on, was totally objected to by all the opposition parties actively participating in the committee. Of course, that particular clause which they objected to is where we specifically point out what black people are. Under the apartheid law, black people were referred to as Africans, coloureds and Indians, and then the Chinese. [Interjections.] We are saying that the Whip will deal in detail with that particular clause which was objected to. Of course, ever since that objection in writing, over microphones and in Hansard, there has been considerable back-tracking. However, what I can say is that all parties strongly opposed the current practice of fronting, which I am sure we all appreciate is a sanitised term for fraud. Fraud is a criminal act. So we were all opposed to it, but again, ever since people were opposed to fronting there has been a measure of back-pedalling. [Interjections.]
Let me say regarding the Broad-Based Black Economic Empowerment Bill that, unfortunately, according to many people in business, the Act itself has not yielded the intended results. Indeed, the beneficiaries also said that. The purpose of this amending Bill ...
Hon Chairperson, I see this is not working, so it is very difficult to know how much time I have left. It says zero. [Interjections.]