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CIPC: Companies Act Regulation – DOMICILIUM ET EXECUTANDI requirements updated
- 21 August 2023
- Accounting
- South African Accounting Academy
CIPC has been permitted to send notices and documents to:
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*the cell phone numbers of directors and members, and
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*the email address of that company, close corporation or co-operative, and
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*the email addresses of directors and members.
This is in addition to the sending of notices to registered and physical addresses (which was previously allowed).
This is noting that:
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sub-section 6(10) of the Companies Act, 2008, as amended, provides for the electronic transmission of notices and documents on the understanding that they can be ‘conveniently printed by the recipient within a reasonable time and at a reasonable cost’, and that
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Annexure 3 to the 2011 regulations allows this if the person for whom a notice and/or document/s is intended has ‘an address for receiving electronic mail’.
Click here to download the Gazetted Notice:
https://www.gov.za/sites/default/files/gcis_document/202308/49140gon3805.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
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Companies Regulations is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
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As an auditor, independent reviewer and accountant, you need to be aware of where CIPC is allowed to send notices.
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Company Secretarial staff play a critical role in bridging the gap between entities and CIPC. As legislation, regulations and tax law are continuously changing and evolving, it is of utmost importance for companies and company secretarial practitioners to keep abreast of such changes so that companies continue to meet their compliance obligations.
Relevance to Your Clients:
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An entity (company or close corporation) has a duty to comply with the Companies Act, and directors have to fulfill their duties accordingly, otherwise, they could be held liable.
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As legislation and regulations are continuously changing and evolving, it is of utmost importance for companies to continue to meet their obligations, and to be aware of the latest publications by Regulators, such as CIPC.