May 6, 2024

New critical update for the filing of CM100 applications concerning insolvent voluntary liquidations. Effective immediately, all CM100 submissions, accompanied by Form CM26Liq for companies and close corporations initiating liquidation, must adhere to detailed guidelines as stated in Customer Notice 34 of 2024. This includes fully completed forms, proper commissioning by a traceable Commissioner of Oaths, …

Avoid Rejection Of Insolvent Voluntary Liquidations Read More »

The Companies and Intellectual Property Commission (CIPC) has updated its procedures for reinstatement applications (Form CoR 40.5) and related enquiries. Due to efforts to streamline operations, CIPC has achieved significant progress in reducing the processing time for reinstatement applications, which is now down to 5–6 working days from the previous 15 working days. Accountants and relevant …

Changes To Reinstatement Processes For Companies And Close Corporations Read More »

There are substantial delays noted in the processing of re-instatement applications (Form CoR 40.5) as outlined in CIPC Notice 34, which also refers back to Notice 9 of 2024 for alternative communication channels. The processing delays are blamed on the high volume of new applications and unintentional resubmissions. The indexing of incoming applications is current, …

Delays In Re-Instatement Applications Read More »

The Companies Act of 2008, under Section 30(1) requires companies to prepare and approve their AFS within six months after their financial year ends. This includes auditing the AFS for public and state-owned companies and other specified companies and having them independently reviewed where required. Many companies have been found non-compliant with these requirements. Failure …

CIPC Reminder on Annual Financial Statements Compliance Read More »

The Companies and Intellectual Property Commission (CIPC) has implemented new procedures for updating customer codes, affecting individual customers and companies. Here’s what accountants need to know to assist their clients with these updates: Individual Customer Code Update: If your client’s customer code is linked to an outdated email or both email and cell phone numbers …

New Procedures for Updating CIPC Customer Codes Read More »