The Companies and Intellectual Property Registration Office (Cipro) has taken the first step in revamping its IT systems, as it introduces increased functionality and security on integral online facilities.
The office yesterday informed company directors of a “full implementation of enhanced functionality on change of company directors (CM29), with effect from 8 October”.
“The enhanced functionality will mitigate the level of risk exposure that various companies are experiencing as it requires that e-mail communication be sent to the relevant directors and officers with a unique once-off code to unlock the company directors' profile,” explains acting Cipro CEO Lungile Dukwana.
The system upgrade comes on the back of a recent incident which saw Kahalari Resources “hijacked” when directors were changed without proper authority. Cipro was later instructed by the court to change the information back to reflect the original directors.
While the new process will go some way to protect companies against this type of fraud, it is only a small part of the organisation's legacy IT system, which is in need of a severe overhaul.
Cipro has recently been criticised by the industry, after its electronic content management (ECM) system deployment stalled. The Department of Trade and Industry canned the R153 million ECM contract with Valor IT, when a forensic investigation revealed irregularities in the tender process.
New CM29 requirements:
The following forms need to be complied with before Cipro can accept changes for processing:
* Certified copies of IDs/passports of the customer, directors and officers listed on the application page.
* Certified copy of the notice of the meeting where the meeting was held.
* Certified copy of an extract of the minutes with the resolution to change directors and other officers.
* Written mandate signed by the CEO and/or MD on a company's letterhead with the correct contact details.
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