The Companies and Intellectual Property Registration Office (Cipro) saw a record number of companies filing annual returns before the 21 February cut-off.
The Companies Act requires that all firms file an annual return providing up-to-date information with the agency. If companies do not file, Cipro assumes they are no longer in business, and deregisters them.
Cipro's initial deadline was October, but this was then pushed to December, and then to 21 February, because of the festive season break.
A large number of customers rushed to file their returns on the final day, says Cipro, with 14 581 electronic lodgements on deadline day. The average amount of electronic lodgements on any normal day is between 6 000 and 7 000.
Acting CEO Lungile Dukwana says the number of lodgements increased consistently over the final two weeks, reaching a peak on the cut-off day. “On average, over 300 walk-in customers per day were served during this period of extended office hours.”
The office's systems are constantly being maintained and improved, as it prepares to be transformed into the Companies and Intellectual Property Commission, in April. The commission will report directly to Parliament and is a requirement of the updated Companies Act.
“Lodgements of annual returns are an effective way to clean up the Cipro database,” says Dukwana. “We are working towards joining the commission with a clean database and proper data integrity.”
Customers who had been deregistered for failing to lodge annual returns still have a chance to restore the registration of their businesses. They will have to pay all outstanding penalties on their annual returns, as well as a restoration fee of R150.
The next phase of deregistration starts in the next few months.
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