FINAL DE-REGISTRATION OF ENTITIES CONFIRMED BY CIPC

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

The effect of this notice is that entities which are currently reflected as having the status of ‘Deregistration Process’ on CIPC records will be finally deregistered if the entity has no outstanding liabilities with any major banks or SARS. The deregistered entities will therefore cease to exist as their juristic personality is withdrawn as a result of deregistration.

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. Failure to file the Annual Return leads to the presumption by CIPC that the entity is no longer trading and thus commences the deregistration process.

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

To avoid final deregistration, the entities must attend to filing the outstanding Annual Returns with associated duties and penalties before the stipulated date.

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