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CIPRO de-registers more companies that miss return deadline Companies that miss October deadline to

Posted by: ikarolia

ikarolia

 The Companies and Intellectual Property Office (CIPRO) has announced today that more companies and close corporations will be deregistered should they not comply with lodging annual returns.

The next batch of companies and close corporations that has not complied with lodging annual returns will be placed in de-registration during October 2010 and will be placed in the status “finally de-registered”, approximately 6 to 8 weeks after referral.

Non-compliant companies and close corporations which have been placed in de-registration for annual return compliance, before final de-registration, may lodge their outstanding annual returns and pay accordingly whilst “in deregistration”.

Once all annual returns have been brought up to date, the company or close corporation’s status will be returned to “in business” automatically.

It’s not the same as the SA Revenue Service submission, the Cipro process has been changed to halt the growth in money laundering and fraud committed through local entities.

Acting Chief Executive Officer of CIPRO Lungile Dukwana says businesses should confirm that all annual returns are up to date in order to avoid being finally deregistered.

“The number and years of outstanding annual returns may be confirmed by using the Enterprise Search functionality on CIPRO’s webpage. Its in the interest of the businesses themselves and the economy that these entities remain in business by complying to the Companies Act and Close Corporations Act in this regard,” he said.

Should CIPRO de-register a company or close corporation, it will no longer be able to operate in South Africa.

Their bank details will be frozen while its juristic status will be removed, and the directors or members will be liable for costs.

All assets the company or close corporation may have at the time of de-registration will be forfeited to the state in terms of the bona vacantia rule.

In order to restore the company or close corporation that was deregistered due to annual returns, an application must be submitted to CIPRO for its restoration, pay outstanding annual returns and submit an annual return electronically.

“Although many companies and close corporations may have applied for restoration and deposited outstanding amounts into the CIPRO virtual account, the process has not been completed until the lodgement of an annual return. By implication, these business entities will again be ‘finally deregistered’ if the annual returns have not been lodged within the next few weeks” said Dukwana.

CIPRO is publishing the lists of non compliant companies and close corporations on its website www.cipro.co.za / www.cipro.gov.za under News and Events/Information Library/CIPRO Publications with the intention of deregistering it within six to eight weeks’ time

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DBS
...
written by DBS, November 16, 2010
I deal with Company Secretaries and provide solutions for them to prepare all the forms for submission to CIPRO including the annual returns. CIPRO with its current issues does not make it easy for them to comply and even when they have it still takes CIPRO months at times to get through the mountain of papaer that they are now requesting.
If you can get onto the site it would be interesting to see if there are any well known names there in the supposed bad boy list

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