Registrar General’s Department to delist over 100,000 firms – Citi Business News

The Registrar General’s Department, RGD, has served discover to the Business Community and most people that it has begun the delisting of dormant firms from the Companies Register.

The delisting course of is commencing with 3,100 firms being taken off the Companies Register.

In an announcement signed and copied to Citi Business News, the Registrar General’s Department mentioned this may be the primary batch of firms to be delisted this month out of the over 100,000 firms registered since 2011.

It mentioned the train has turn into needed after the top of the three months validation course of carried out by the Department from July to September this yr to evaluate the sampled group of Companies not in good standing with the Department.

It mentioned over 257,241 firms current within the database had not filed their Returns or Amendments with the Department since 2011.

The assertion additional famous that 670,282 Companies within the Legacy System (Old database) had not carried out the replace of their knowledge dubbed “Re-registration” as at March 2020.

It, subsequently, urged defaulting firms (whether or not in operation or not in operation) to take measures to regularize their enterprise and replace their data with the Department to keep away from being delisted.

The assertion mentioned any Company official with information of the Company’s non-existence or having no extra curiosity within the Company’s Name or willfully desirous to wind-up or dissolve the Company or being no extra within the Company’s Business Name ought to write to the Registrar-General indicating such intention.

The Provision underneath part 289 of the Companies Act 2019 (Act 992) states {that a} Company might be stricken off the register because of the failure of the Company to file its Annual Returns on time or as a consequence of a change within the Company’s Registered Office and Principal Place of Business with out notifying the Registrar of Companies.

The Act mandates the Registrar of Companies to wind up Companies whose workplace is thought to not be in operation after notices and a moratorium have been given to such firms to file their Annual Returns and but haven’t complied.

A Company’s standing after the strike off at this era can be labeled as being inactive and wouldn’t be capable of be accessed for any enterprise transaction for the following 12 years, besides by a Court Order to the Department to revive it to a standing of excellent standing within the Companies Register.

It mentioned the Department, in accordance with the Companies Act, 2019 (Act 992), made three publications on their web site and the nationwide dailies serving discover of the Department’s intent to undertake its maiden clear up train of the Companies Register to make it correct and credible.

“Two notifications were earlier issued on 12th May and 1st December 2020 with the final notice published on 19th March 2021,” it mentioned.

The Department advised defaulting firms to go to its web site www.rgd.gov.gh, click on on News and scroll down to seek out the primary batch of Companies listed for deletion or discover them within the National dailies.

The assertion mentioned Company Officials, who discover the identify of their firms within the revealed record, might nonetheless file their Annual Returns with the Department to get their names off the record and keep away from being delisted by the top of October 2021.

It mentioned the train of the sampled record of Companies to be delisted on their web site would proceed till the top of December 2021.

The subsequent batch of companies to be despatched notices to can be the Companies, Partnerships and Business Names within the Legacy Data from 1963 to 2011, who’ve nonetheless not up to date their data with the Department dubbed ‘Re-registration.

The Department, subsequently, urged defaulting companies to file their Annual Returns, Renewals, Amendments or replace their data dubbed “Re-registration” to keep away from being delisted.

It mentioned the top of the train would guarantee a reputable, dependable and up to date Register of Companies, Partnerships and Business Names that had been finishing up enterprise in compliance with the completely different Acts governing their operations.