We have already noticed an increase in the number of lodgements and would like all business entities to have an opportunity to lodge their annual returns before we implement final deregistration.”

Those companies as well as close corporations that have already been placed into deregistration for failing to lodge annual returns, can still lodge outstanding returns to avoid final deregistration. This as once all annual returns have been brought up to date the business status will be reinstated as “in business”.

Should Cipro have to deregister a company or close corporation, the entity will no longer be able to conduct business as it will no longer be a registered business in terms of the Companies Act and Close Corporations Act. 

This could also result in the freezing of the company’s bank account and any assets that the company or close corporation may own at the time of deregistration, will be forfeited to the state.

Cipro has appealed to clients to put their contact details on the annual returns. A list of non compliant companies and close corporations has been put on Cipro’s website (http://www.cipro.gov.za/info_library/cip_pub.asp) to help companies and close corporations in confirming their status. - BuaNews