New Companies Act 2008 - effective from 1 May 2011
The new Companies act has now been implemented introducing quite a few changes in the registrations of companies.
In short the following has changed:
- No new Close Corporations (CC's) can be registered anymore. CC's applied for before 1 May 2011 will still be re-gistered.
- Existing CC's will continue to exist and although not compulsary can be converted into a new PTY Ltd
- Only Companies (4 diffrent kinds) can be registered from the 1st of May 2011
- The most common type is a private company (PTY) Ltd which is comparable to the 1973 Companies act.
- Annual returns must still be lodged for CC's, Companies, as non-profit Companies now also need to lodge annual returns, the process and fees for annual returns has been changed slightly.
- The restoration of de-registered enties (CC's/PTY) has also been changed with more info/supporting documents now required to restore an entity.
We will be changing our website over the next couple of days to accomadate for all these changes, keeping it as user friendly as always, ensuring you still get the best online services available on the internet.
Please visit our website reguraly as we will be updating on a daily basis.