When last did you update your Will?

A Last Will and Testament is the subject of much procrastination which often gets signed, placed somewhere for safekeeping and then forgotten about.  Please don’t make this mistake. In a recent webinar, I attended for business owners, 28% had no will at all, a further 40% had never reviewed their will and less than 10% […]

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Director delinquency ruling – Stephanie Phillips | Compliance Officer

MD’s email sent out for this post | https://bit.ly/3eAHwRm We alert you to the recent High Court of South Africa judgement that has seen former SAA Chair, Dudu Myeni, being declared a delinquent director in terms of the Companies Act. Judge Ronel Tolmay found that Ms Myeni had comprehensively failed to fulfil her duties as […]

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Director delinquency ruling

“IoDSA welcomes delinquency ruling and calls for directors to commit to education Recent High Court of South Africa judgement has seen former SAA Chair, Dudu Myeni, being declared a delinquent director in terms of the Companies Act. Judge Ronel Tolmay found that Ms Myeni had comprehensively failed to fulfil her duties as a director and […]

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Department of Trade and Industry on CIPC certification process during COVID-19 Coronavirus extended lockdown

The Department of Trade and Industry (“DTI”) released a statement on 16 April 2020, stating that companies that are registered in terms of the Companies Act, 2008 and through the Companies and Intellectual Property Commission’s (“CIPC”) BizPortal to perform essential services during the lockdown period will need to have a new certificate from the BizPortal website for the extended […]

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CIPC – Lockdown

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

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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. […]

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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 […]

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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)     This guide has been issued by The South African Institute of Chartered Accountants’ (SAICA’s) Legal Compliance Committee (LCC). The guide seeks to inform members of the requirement to retain documents […]

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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.

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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.

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