The Public Interest Score (“PIS”) is to be determined at the end of each financial year by each Company.

PIS= a+b+c+d

Where:

  a  =  average number of employees during the financial year

  b  =  one point for every R1m in 3rd party liability at the financial year end

  c  =  one point for every R1m turnover during the financial year

  d  =  one point for every individual shareholder who at the financial year end:

  *  has beneficial interest in securities: profit company

  *  is a member: non-profit  company

The PIS will indicate in respect of Private Companies whether an audit is required and whether an ethics committee will have to be instituted or not.