The CIPC Compliance Checklist скачать в хорошем качестве

The CIPC Compliance Checklist

The Companies and Intellectual Property Commission (“CIPC”) issued Notice 52 of 2019 announcing that new requirements apply for companies to declare their compliance status to specific sections of the Companies Act, which will be required to be submitted with the Annual Return of the company. This is applicable to all companies as of 1 January 2020. Transcipt: The CIPC Compliance Checklist is a new mandatory requirement. It requires companies to declare the status of compliance with certain sections in the Companies Act. It's applicable to all companies from 1 January 2020 and must be submitted annually with their annual return. The motivation for the CIPC Compliance Checklist has been stated to be, firstly, to ensure compliance with the mandatory sections of the Companies Act. Secondly, to educate directors in terms of specific sections of the Companies Act and thirdly the information will be used to ensure proper compliance and to identify trends in non-compliance by companies. The directors will be required to answer certain questions on the CIPC Compliance Checklist indicating whether they have complied with specific requirements of the Act during the previous financial year. A significant number of sections have been included on the checklist. The most notable amongst them being the solvency in the Equality requirements, the access to records requirements, financial assistance requirements, shareholders meetings requirements, appointment of directors, as well as the enhanced accountability requirements relating to auditor appointment as well as auditor rotation. Knowingly providing false information in this regard has quite dire consequences. It could result in imprisonment not exceeding 12 months or a fine or a fine and imprisonment. In the case where incorrect information is provided to CIPC unintentionally, CIPC will have to be advised of the mistake via email, together with the motivation as to why the false information was provided, as well as why it should be rectified. CIPC will then take that information in consideration in order to make an appropriate determination on a case-by-case basis.