Ricochet News

Final de-registration of entities confirmed by CIPC

Jan 17, 2018
Final de-registration of entities confirmed by CIPC

The Companies and Intellectual Property Commission (CIPC) has issued a notice (Notice 61 of 2017) confirming the final de-registration of certain Companies and Close Corporations effective 2 February 2018 due to non-compliance with filing of Annual Returns.

According to Sandy Scholtz, Senior Associate at Port Elizabeth-based leading law firm, Goldberg & de Villiers Inc.; "The effect of this notice is that entities, which are currently reflected as having the status of ‘De-registration Process’ on CIPC records will be finally de-registered if the entity has no outstanding liabilities with any major banks or SARS."

She explained that the de-registered entities will therefore cease to exist as their juristic personality is withdrawn as a result of the de-registration.

"A Company or Close Corporation is required to file an Annual Return with CIPC within a certain time period each year, dependent on the date on which the entity was registered.

"The purpose of filing the Annual Return is to provide CIPC with the latest information pertaining to the entity and for CIPC to determine whether or not the entity is still conducting business activities," Scholtz described.

"Failure to file the Annual Return leads to the presumption by CIPC that the entity is no longer trading and, thus, commences the de-registration process."

For a list of entities due to be finally de-registered on 2 February 2018, visit the CIPC website at www.cipc.co.za/index.php/legislation/gazettes.

"To avoid final de-registration, the entities must attend to filing the outstanding Annual Returns with associated duties and penalties before the stipulated date," Scholtz advised.

For assistance in this regard, contact Goldberg & De Villiers Incorporated on 041 501 9830.