In determining the appropriate threshold, Minister Rob Davies had considered various factors including the need to protect small businesses, and the definition of a small business in terms of the National Small Business Amendment Act, No. 26 of 2003 as it applied to most sectors.
The determination of the threshold had been published in the Government Gazette for public comment.
"For purposes of the Act, a juristic person includes a body corporate, a partnership or association or a trust as defined in the Trust Property Act, 1988 (Act No. 57 of 1988)."
Although the Act did not require the minister to issue the threshold for comment, the department had deemed it necessary to provide people an opportunity to have their say.
"It is also important that businesses should know beforehand whether they will be protected under the act, or whether their customers who are juristic persons will be protected under the Act," the department said in a statement.
Publication of the threshold figure in the Gazette would give the business sector an opportunity to implement compliance procedures before the general effective date of the Act which is April 1, 2011.
The notice published in the Gazette also invited members of the public to submit written comments by October 31 to cparegs@thedti.gov.za or fax 012-394-2383.
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