CIPC – Lockdown

Author Archives: CoSec

CIPC – Lockdown

Click here for an important notice for all CIPC customers, regarding the downtime due to the national lockdown: notice_16

read more

Section 45 Companies Act – Financial Assistance

Section 45 is not a new section of the Companies Act. However, CIPC now requires you to note your compliance with this section as part of the new CIPC Compliance Checklist. It is a punitive section and can result in personal liability for the directors of a company or the members of a Close Corporation. […]

read more

Is your Company compliant? New requirement from 01 January 2020!

We are bringing the following very important and high-risk change to your attention: CIPC has introduced a Compliance Checklist to be completed as part of the Annual Return submission for all Companies (Proprietary Limited, Incorporated, Limited, State-Owned and Non-Profit). CIPC has further advised that they will utilise the Checklist to monitor and regulate compliance of […]

read more

Updated SAICA Retention of Records Guide

The updated SAICA retention of records guide has been released: Retention of records guide updated Guide on Retention of Records (Updated April 2019) Click on the page below to view the document: This guide has been issued by The South African Institute of Chartered Accountants’ (SAICA’s) Legal Compliance Committee (LCC). The guide seeks to inform […]

read more

CIPC’s new system becomes mandatory

Submission of Annual Financial Statements to the Companies and Intellectual Property Commission (CIPC) using inLine eXtensible Business Reporting Language (iXBRL) as a standard, will be mandatory as from Sunday, 01 July 2018.

read more

Companies Act to be amended

This was announced by the Acting Deputy Director General for Consumer and Corporate Regulations at the dti, Mr MacDonald Netshitenzhe who said that this was result of the company law reform aimed at instilling corporate accountability, transparency and reduction of regulatory burden.

read more

2B or not 2B: Will your ex-spouse inherit from your estate?

Sometimes it takes a sensational story in a newspaper, as opposed to oft-repeated legal advice, to drive home the importance of regularly updating your Will. Such an article appeared in the Sunday Times on 29 January 2017, entitled Gone to the Dogs. Conveying some sympathy for the deceased’s ex-wife, the article sets out the facts […]

read more

The King IV Corporate Governance Code may apply to you

The King reports over the last two decades have become locally and globally synonymous with good governance. To date the King Codes have had limited impact on Small and Medium Enterprises (SMEs). It is important to note that the King Codes are voluntary.  In terms of the latest King IV Report (it has been released for […]

read more

What is an Independent Review?

A company is allocated points according to the number of its employees, its annual turnover, its stakeholders and the level of third party liabilities at the end of the financial year. The Public Interest Score (PIS) is calculated as follows: 1 point for each employee or the average number of employees throughout the year. 1 […]

read more

The Companies Act Solvency and Liquidity Test

A company would satisfy the solvency and liquidity test if, considering all reasonably foreseeable financial circumstances of the company at that time: the fair value of the assets of the company equal or exceed the fair value of its liabilities; and it appears that the company will be able to pay its debts as they […]

read more