The Companies and Intellectual Property Commission (CIPC) has successfully obtained Orders in terms of section 17 5 of the Companies Act 71 of 2008 (“the Act”) for administrative fines to be imposed on three companies which failed to comply with Compliance Notices issued in terms of 1. 71(7) of the Act in relation to those companies failure to prepare their annual financial statements within six (6) months after the end of their financial year end and file them with the CIPC.

The Companies Tribunal wishes to draw attention that in many circumstances there may be valid reasons why this was not possible.

In the premises, should a company be served with a Compliance Notice and have valid grounds to require additional time, they may apply to the Companies Tribunal (“the Tribunal”) in terms of section 172(1) for the Compliance Notice to be reviewed. After considering the representations made, the Tribunal may in terms of section 172{2) confirm, modify or cancel all or part of the Compliance Notice. 

The Companies Tribunal can be contacted at (012) 394 3071 or www.companiestribunal.org.za or send email to: Registry@companiestribunal.org.za