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The National Economic Development and Labour Council was established in terms of the National Economic​ Development and Labour Council Act​, 1994, and operates in terms of its   own constitution.

The Act requires organised labour, organised business, community based organisations and Government, as a collective, to promote the goals of economic growth; participate in economic decision making and social equity; seek to reach consensus and conclude agreements on matters pertaining to social and economic policy; consider all proposed labour legislation relating to labour market policy and all significant changes to social and economic policies before these are introduced in Parliament; and encourage and promote the formulation of coordinated policy on social and economic matters

The NEDLAC Act requires the institution to:

• Strive to promote the goals of economic growth, participation in economic decision – making and social equity
• Seek to reach consensus and conclude agreements on matters pertaining to social and economic policy
• Consider all proposed labour legislation relating to labour market policy before it is introduced in Parliament
• Encourage and promote the formulation of coordinated policy on social and economic matters
• Consider all significant changes to social and economic policy before it is implemented or introduced in Parliament
• Consider Social Economic Disputes in terms of Section 77 of the Labour Relations Act.

National Economic Development and Labour Council  (NEDLAC) http://nedlac.org.za/

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