What has to be filed at CIPC?
Section 33 of the Companies Act, 2008 requires every company to file the following documentation annually:
- Copy of annual financial statements;
- Copy of company’s security register;
- Copy of register of disclosure of beneficial interest.
What is a security register?
A security register, is a record of all issued securities in a company, reflecting the type of security as well as the information of the holder thereof.
Should a company not fall within the meaning of an ‘affected company’ the company must record in its securities register prescribed information regarding the natural persons who are the beneficial owners of the company, in the prescribed form, and must ensure that this information is updated within the prescribed period after any changes in beneficial ownership have occurred.
What is a register of disclosure of beneficial interest?
Such a register contains the information of anyone who holds beneficial ownership, as fully described above, in a company.
The disclosed information includes inter alia, full name, date of birth, identity or passport number, residential and postal address, email address, and the extent of ownership or effective control which the individual has of the company
Who cannot file beneficial interest information?
Entities with the following statuses cannot file beneficial information:
- Final de-registration (whether voluntary or AR);
- Voluntary de-registration process (not AR);
- Final Liquidation;
- Voluntary liquidation;
- Provisional liquidation;
- Conversion from CO/CC or CC/CO;
Compliance with the new CIPC Beneficial Ownership regime is not optional and can result in hefty penalties should companies not comply before the 30th of October 2023. Ensure that your company is compliant with the necessary amendments, by contacting Burger Huyser Attorneys to assist you with all your commercial compliance needs.