Author: Fast Reg (Luzanne Kotze)

Congratulations on registering your company. Fast Reg wishes you all the best in your business endeavours. Registering your company is only the first step in managing it. Throughout its life span, a company is required to maintain its information and legal status with the CIPC. Failure to do so may have serious consequences for your...

For a business with a turnover of less than R10 million, a B-BBEE certificate is not required.  Customers can complete an Affidavit, signed by an Commissioner of Oaths, and hand it instead of the B-BBEE certificate.  Once the Affidavit has been stamped by a Commissioner of Oaths, the Affidavit serves as a B-BBEE certificate as...

Chapter 6 of the Companies Act 2008 (Act 71 of 2008) provides for the efficient rescue and recovery of financially distressed companies, in a manner that balances the rights and interests of all relevant stakeholders.  All businesses that are financially distressed and want to take a decision to start rescue proceedings can file a notice...

A business can be referred for deregistration upon request from the company or close corporation or any other third party, provided that the company or close corporation has ceased to carry on business; and has no assets or, because of the inadequacy of its assets, there is no reasonable probability of the company or close...

All companies (including external companies) and close corporations are required by law to lodge their Annual Returns with CIPC within a certain period of time every year. An Annual Return is a statutory return in terms of the Companies and Close Corporations Acts and therefore MUST be complied with.  Failure to do so will result in the...