Regulatory compliance universe
Aligning the Market Demand Strategy (MDS) to Transnet´s regulatory context
Compliance management focus areas are defined by the Regulatory Universe, with outputs reflecting risk-based legislation of priority impacts on Transnet. The Regulatory Universe is consolidated across the Company. Additionally, the compliance focus is defined by understanding which critical business processes and priority regulatory requirements are required to achieve the Company´s strategic objectives.
The illustration reflects the alignment between the MDS, the developmental outcomes and material aspects identified through various stakeholders.
The regulatory items reflected are key to ensure ongoing operations and sustainability.
Group Risk and Compliance ensures that the outcome of its annual Compliance Plan is aligned with the Audit Committee and Risk Committee mandates, and informs the following key aspects contained within the Board mandate:
- It provides an opinion on the state of compliance to applicable regulatory requirements impacting Transnet; and
- The implementation of controls in management.
How to read the regulatory compliance universe
Each segment of the wheel refers to specific MDS strategic imperatives, business enablers and Sustainable Developmental Outcomes (SDOs).
Reading the wheel from the inside outwards, the first level of interpretation is the regulations.
These are related to a specific strategic imperative or business enabler as per the segment they fall under. The layer beyond the regulations depicts the strategic imperatives and business enabler segments of the wheel.
- Air Services Licensing Act, 1990
- Basic Conditions of Employment Act, 1997
- Broad-Based Black Economic Empowerment Act, 2003
- Companies Act, 2008
- Competition Act, 1998
- Construction Industry Development Board Act, 2000
- Customs and Excise Act, 1964
- Electronic Communications Act, 2005
- Employment Equity Act, 1998
- Gas Act, 2001
- Hazardous Substances Act, 1973
- Labour Relations Act, 1995
- Merchant Shipping Act, 1951
- National Building Regulations and Building Standards Act, 1977
- National Energy Regulator Act, 2004
- National Environmental Management Act, 1998
- National Key Points Act, 1980
- National Ports Act, 2005
- National Railway Safety Regulator Act, 2002
- National Water Act, 1998
- NEM: Air Quality Act, 2004
- NEM: ICMA Act, 2008
- Occupational Health and Safety Act, 1993
- Petroleum Pipelines Act, 2003
- Petroleum Products Act, 1977
- Public Finance Management Act, 1999
- Preferential Procurement Policy Framework Act, 2000
- Skills Development Act, 1998
- Prevention and Combating of Corrupt Activities Act, 2004
- Protection of Constitutional Democracy Against Terrorist and Related Activities Act, 2004
- Office of Foreign Assets Control
- NEM: Biodiversity Act, 2004
- National Road Traffic Act, 1996
- Legal Metrology Act, 2014
- King Code of Governance for South Africa, 2009
- Currency and Exchanges Act, 1933