de-registration alert
May 9, 2011 by admin · Leave a Comment
It is a criminal offence, for which company directors/secretaries or members of close corporations may be prosecuted, not to deliver a company’s/close corporation’s annual return within the prescribed period.
In addition, the Companies and Intellectual Property Office (CIPRO) may also deregister non-compliant companies and close corporations. Once de-registered, such companies and close corporations may no longer operate or do business. The assets of de-registered entities are regarded as bona vacantia and are forfeited to the State.
These are dire ramifications for non-compliant entities.
CIPRO publishes lists of non-compliant entities on its website which are in danger of deregistration. Please see www.cipro.co.za.