CIPC: Rejection of Re-instatement applications

CIPC: Rejection of Re-instatement applications

• 13 March 2024
• CIPC
• South African Accounting Academy

As from 6 March 2024, all customers must be verified before any of their transactions are processed, this includes applications e-mailed for processing. The verification process has the impact that emailed applications cannot be tracked and therefore be referred for further processing.

Customers, especially those that have pending re-instatement applications are reminded to urgently verify their customer profile information as per the Customer Notice 18 of 2024, before it is rejected.

Our apologies for the delay in processing and the inconvenience caused.

Prior Customer Notices can be accessed as follows:

• Notice 18 of 2024 at https://www.cipc.co.za/?p=20626 and
• Notice 22 of 2024 at https://www.cipc.co.za/?p=20675.

Click here to download the Customer Notice:

https://www.cipc.co.za/wp-content/uploads/2024/03/Notice_Rejection-of-Re-instatement-applications_v0.1.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• The Companies Act 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.
• As an auditor, independent reviewer and accountant, you also need to monitor your client’s compliance with the Companies Act and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
• Where you perform these compliance tasks on behalf of your client, you need to ensure that you comply with all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
• You should be especially aware of expected delays experienced by CIPC – e.g. in the re-instatement and query process that follows the deregistration of companies and CCs in January 2024.

Relevance to Your clients:

• An entity (company or close corporation) has a duty to comply with the Companies Act, and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
• Clients should be especially aware of expected delays experienced by CIPC, and issues surrounding re-instatement applications.

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