CIPC clamping down on reckless conduct and non-compliance

Sep 12, 2023 | CoSec Blog

“One of the many purposes of the Companies Act, 71 of 2008 (hereinafter referred to as “the Act”) is to provide for a predictable and effective environment for the efficient regulation of companies and other juristic persons, as described in section 7 of the Act. In recent times, it has unfortunately become more and more prevalent for companies and the persons responsible for the management thereof, to rather resort to criminal activities to reach certain goals, than to comply with legislative and common law requirements.”

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CIPC reckless conduct

– Cape Chamber of Commerce and Industry

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