The 12J Association of South Africa (“The Association”) is an independently constituted industry body which represents more than 25 12J asset management companies, which collectively manage more than 50 12J venture capital companies (“VCCs”) and approximately 86% (c.R8 billion) of the total industry assets under management (based on February 2019 figures as the February 2020 figures are yet to be confirmed by the South African Revenue Service). The Association, which is represented by an independently elected board of directors, was established for the following purposes: a) To inform, educate and advise members of the Association, government and members of the general public as to the impact and importance of the 12J incentive in South Africa; and b) To act as a point of contact for industry participants to interact with government, regulatory bodies, the public, the press and business organisations in relation to the 12J incentive.