African Union Standards and Codes The following UN definitions should be adopted when completing the table of standards and codes: • Accede is an act by which a State signifies its agreement to be legally bound by the terms of a particular treaty or convention. It has the same legal effect as ratification (see below), but is not preceded by an act of signature. • Adoption is the formal act by which the form and content of a proposed treaty or convention text are established, usually by way of a resolution of a representative organ • Enacted or Entry into Force. This occurs at a specified date and time following ratification of the treaty or convention and is usually set out in the national legislative requirements relating to that treaty or convention • Ratification is an act by which a State signifies an agreement to be legally bound by the terms of a particular treaty or convention. It usually does this through following national constitutional procedures e.g. Parliament, Head of State or a combination and making a formal decision to be a party to the treaty or convention • Signature of a treaty or convention is an act by which a State provides a preliminary endorsement of the treaty or convention. It does not create a legally binding obligation but does demonstrate the State‟s intent to examine the treaty or convention domestically and consider ratifying it. State Owned Enterprises Have a distinct legal form and are established usually by government to operate in (SOEs) commercial affairs. While they may also have public policy objectives, SOEs should be differentiated from other forms of government agencies or state entities (Parastatals) established to pursue purely non-financial objectives. They should produce a return on investment to government either through share price increase or dividends. SOEs can be fully owned or partially owned by Government (>50% of shares). Sub-national Levels of government below the national sphere, whether provincial, state, regional, district government or authority or local/municipal Sustainability The capacity of an organization to reconcile social, environmental and economic issues in a way that it endures in the long-term. xvi