Many businesses do not consider compliance as part of their core function and, quite often, this item can be overlooked when so much energy is spent in order to make sure that the bottom line of the business is maintained.
By law however, all companies are required to keep their corporate statutory records up to date. Not only does this ensure compliance with the Companies Act 71 of 2008, it also promotes Corporate Governance within your organisation.
The company secretary is responsible for the efficient administration of a company, particularly with regard to compliance with statutory and regulatory requirements.
The Corporate Statutory Department at RSM has a highly skilled and dedicated team of professionals who are able to assist businesses in respect of a wide array of corporate statutory matters in order to ensure that compliance with Companies Act 71 of 2008 is not overlooked.
Our Corporate Statutory Department would typically assist our clients to:
- Lodge your Annual Return with the Companies and Intellectual Property Commission:
All companies, including non-profit companies, external companies and close corporations, by law have to file annual returns once every year within the required time frame as regulated by the Companies Act and Close Corporations Act.
- Resign and appoint Directors and notify the Companies and Intellectual Property Commission:
The Companies Act 71 of 2008 states that every company must file a notice within 10 business days after a person becomes or ceases to be a director of the company.
- Update your Registered Address with the Companies and Intellectual Property Commission:
The registered address of a company is the address where all legal documents will be served on the company and therefore it is critical that this information is updated with the Companies and Intellectual Property Commission. Per the Companies Act 71 of 2008, each company or external company must continuously maintain at least one office in the Republic and register the address of its office, or its principal office if it has more than one office with the Companies and Intellectual Property Commission.
- Change your company name with the Companies and Intellectual Property Commission:
A change of name of a company constitutes an amendment to its Memorandum of Incorporation and is filed with the Companies and Intellectual Property Commission. A name change takes effect on the date the amended registration certificate is issued by the Commission.
- Change your financial year end with the Companies and Intellectual Property Commission:
A company may change its financial year only once during any particular financial year by filing a notice with the Companies and Intellectual Property Commission. The change in the financial year may not result in a financial year ending more than 15 months after the end of the preceding financial year.
- Maintain and update your company registers:
The Companies Act 71 of 2008 requires all companies to maintain their records for a period of 7 years and keep its company registers up to date.
Please feel free to contact our Corporate Statutory Services department to engage with one of our professionals in order to obtain more information in this regard.