How do administrative fines come about?
Companies Act 2008, Section 30 requires AFS to be issued within 6 months.
RA reports an RI to IRBA. IRBA reports to CIPC. CIPC provides an additional 6 to 9 months before investigating – normally as a cold case.
Disclaimer:
Please note that the information provided does not constitute legal or professional advice, but rather the applicability of existing theory to a given practical situation. Due care is taken to ensure that the information is correct, but it remains subjective and an interpretation of application of information.
