Companies must pay K3,000 to re-register

By CLARISSA MOI
COMPANIES de-registered for non-compliance of regulations will have to apply for reinstatement through the Registrar of Companies or the National Court, according to the Investment Promotion Authority.
Acting Registrar of Companies Harriet Kokiva said a company was required to apply within six years from the date of de-registration.
A fee of K3,000 will be charged plus any additional fees on outstanding annual returns.
“Once a company is de-registered, it will need to apply for reinstatement if it still wants to conduct business,” she said.
“The process and costs involved are tedious and expensive.”
The authority announced on Tuesday that a de-registration exercise would follow a notice of intention notice in The National today.
Companies will be given one month to submit outstanding annual returns.
The de-registration starts next month.
They will start with the 5,000 companies which had not filed returns since 2000.
In 2017, the IPA conducted an awareness campaign to get companies who had outstanding annual returns to submit them.
“As part of this exercise, we published on our website a list of companies which had outstanding annual returns.
“The publication of the list of non-compliant companies on the website was a goodwill exercise as part of our awareness campaign,” she said.
“The de-registration exercise we are rolling out now is the next step.”