Authority assists companies

The National Business

The Registrar of Companies has undertaken certain measures to assist businesses in their compliance duties by exercising its powers.
Acting Registrar Harriet Kokiva issued a notice to business houses and companies pin response to the directives declared in the state of emergency (SOE).
Under Sections 101 (3) and 179 (2) of the Companies Act 1997, all companies are exempted from strict compliance of annual general meetings, preparation and presentation of financial statements and submission of annual return requirements until the SOE ends.
It means a waiver of:

  • time limitation in holding annual general meetings;
  • time limitation in the preparation and presentation of financial statements;
  • penalty fees for companies with late or outstanding annual returns. Companies are expected to pay only the online lodgment fee of K250 per lodgment.

“Our front counters will remain closed during the SOE period,” Kokiva
“We expect all lodgments to be done online only.”