Personeelnuus
March 17, 2020
Die verpligte voltooing van die CIPC se Vraelys
March 31, 2020

The compulsary completion of the CIPC Compliance Checklist

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The Companies and Intellectual Property Commission (“CIPC”) issued a notice (Notice 52 of 2019) in August 2019 in which they introduced the CIPC compliance checklist.

The CIPC now requires each company to complete this checklist to ensure compliance with the mandatory requirements of the Companies Act (Act No. 71 of 2008). It also serves as an educational tool for directors in guiding them with regards to their responsibilities.

CIPC will utilise the checklist to monitor and regulate proper compliance with the Companies Act and if certain trends of non-compliance appear, CIPC will take action accordingly.

The completion of the checklist will be mandatory for the following companies:

• Incorporated Companies (Inc)
• Proprietary Limited (Pty) Ltd
• Limited (Ltd)
• State-owned Companies (SOC)
• Non-Profit Companies (NPC)

One of the following answers must be provided for each of the questions on the checklist:

(i) Yes,
(ii) No or;
(iii) Not Applicable, can be ticked off on the list (in respect of every section/regulation individually)

 

ASL assists its clients in lodging Annual Returns with CIPC and will also now offer to assist clients in completing the required checklist before submitting Annual Returns.

Clients should, however, take note that most of the business of the company is internal, within the company itself. Companies are required to self-regulate and comply with the Companies Act at all times.

It remains the responsibility of the company to ensure that correct information is provided in the submission of the checklist. Incorrect information supplied to CIPC may imply non-compliance, which in turn may lead to queries or action from CIPC.

ASL will make available to its clients a similar initial checklist, with relevant background information on the specific sections, regulations and Schedule 1 of the Act, in terms whereof CIPC requests compliance confirmation.

ASL staff will also be available to provide information and guidance as and when required by its clients. Where ASL are requested to submit the checklist on behalf of a client, ASL will make use of the information supplied on the initial checklist.

The CIPC checklist will form part of the email correspondence that is sent out to each client in the month in which the company’s Annual Return is due to be submitted with CIPC. The checklist must then be completed by the client and returned to ASL together with the completed Financial Accountability Supplement (“FAS”), where applicable, and the proof of payment.

The cost payable for the checking of the information provided to us for the submission of the checklist, together with the submission and administration of the annual return and the Financial Accountability Supplement (“FAS”) will be R 1 650.00 (excluding VAT). This cost must be paid before the submission of the checklist and the Annual Return can take place.

Should there be any questions or concerns with regards to any aspect relating to the completion and/or submission of the checklist please do not hesitate to contact our offices or send an email inquiry to ar@asl.co.za.