CIPC announces NEW method of confirming Business Rescue issues and BRP appointments

CIPC announces NEW method of confirming Business Rescue issues and BRP appointments

• 17 July 2020
• Accounting
• South African Accounting Academy

Since the introduction of Chapter 6 of the Companies Act it has been the practice that upon receiving the appointment of the business rescue practitioner (CoR123.2) by the company, CIPC date stamp it to confirm such appointment.

Due to challenges posed by the Covid-19 pandemic, at times it is not always possible to affix a date stamp because of the office closure due to deep cleaning and sanitization at various intervals. Having said the above and in order to verify and confirm appointment of the business rescue practitioner, kindly do a company disclosure where the records should include the name of the appointed practitioner, since CIPC cannot physically date stamp the CoR123.2 form.

As from 15 July 2020, a letter will be issued confirming that the application was received, processed and that the relevant status change has been made on the companies registry. This confirmation letter will be signed by either the Senior Manager: Companies and Close Corporations, Manager: Company and Close Corporation Annual Returns, Deregistrations, Liquidations, Business Rescue Proceedings and Re-instatements or any person acting in such position.

Thus, the CIPC will no longer issue a stamped copy of the submitted application as confirmation for such applications. This method is aligned to other existing applications within CIPC whereby a confirmation letter is issued as confirmation that application was processed e.g. amendment to Memorandum of Incorporation (form CoR15.2).

Click here to download Notices 35 and 36 of 2020:

http://www.cipc.co.za/files/3515/9483/3022/Notice_35_of_2020_Confirmation_letter_for_BR.pdf

and

http://www.cipc.co.za/files/1715/9488/4490/Notice_Confirmation_letter_for_BRP_process.pdf

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