GOVERNANCE

Compliance report

Regulatory compliance report

The IRCC oversees the discharge of regulatory compliance responsibilities. The Committee monitors, assesses, researches and reports on the regulatory environment in which the Group operates. The IRCC reports to the ARCC.

The process of compliance management encompasses:

The risk of non-compliance is being managed through:

In terms of the Group’s compliance risk profile, the following represents the top three pieces of legislation that demands our attention in the regulatory universe:

1. Protection of Personal Information Act 2013 The Protection of Personal Information Act imposes an obligation on companies to ensure that personal information is processed in accordance with the eight conditions of the Act. Our business model is heavily reliant on electronic data and digitised products. We have since undertaken various assessments to establish the level of compliance and have improved our control environment to ensure compliance with the Act and regulations.

Ensuring adequate information security is an ongoing prerequisite for BLT.
2. Waspa (Wireless Application Services Providers’ Association) code of conduct 2017 Membership of an industry body with a recognised code of conduct has been made compulsory by Telkom Mobile, Cell C, MTN and Vodacom for all WASPs (wireless application service providers). As a WASP, we continuously strive to keep abreast and comply to WASPA’s code of conduct and advertising rules. In turn, members of the public are able to use mobile services with confidence, assured that they will be provided with accurate information about all services and the pricing associated with those services.
3. Cybercrimes and Cybersecurity Bill 2015 As our business model is heavily reliant on electronic data and digitised products, we have an ongoing obligation to ensure adequate information security.

We are focused on cybersecurity within BLT and take a proactive approach in the prevention of cybercrime.

The Board is satisfied that the Company has complied with all relevant provisions of the Companies Act of South Africa, the JSE Listings Requirements and has operated in conformity with the Company’s MoI during the year under review.