File your annual returns or risk losing your business name – Registrar General

Registrar General, Jemima Oware

2,788 companies were removed from the register

Cancellation notice started from 2019, Registrar General

Another 100,000 inactive companies will be deregistered

Registrar General Jemima Oware explained that companies that have not filed their annual returns from 2011 should strive to do so as soon as possible or risk losing their names.

Ms Oware said the delisting exercise that started last year is not over and more inactive businesses will be removed.

According to her, notices have been sent out warning companies to pay their annual declarations of 50 cedis instead of paying a 500 cedis penalty.

Speaking in an interview on The Marketplace on JoyNews, she said the companies that have been delisted have been made illegal, so doing business with them will be at your own risk.

“They have been rendered inactive in our system. If you come looking for them, you might not even find them because they have been rendered inactive. This means that people who do business with them do so at their own risk, as they have not been enabled to do business with them. If you want to re-enter these companies in the register, you must necessarily go through the court and, at the discretion of the court, they can re-enter them in the register.

“It’s going to happen in the next 12 years, after 12 years your name will fall back into the public domain and anyone can pick it up,” she added.

In an earlier statement from the Registrar General’s Department, “it said these defaulting companies have failed to comply with the direction issued by the Department to file their annual returns or risk being struck off the Companies Register.”

However, the names of these companies were published earlier on the Department’s website and in national daily newspapers and were among the first batch of more than 100,000 defaulting and inactive companies that the Department had planned to remove from the Companies Registry. as part of its cleansing exercise. .

Companies include companies limited by shares: 1,374; Companies limited by guarantee (churches, country clubs, associations, unions, schools, etc.): 978; External companies: 41 and others (companies voluntarily delisted): 395.

“This exercise has been carried out in accordance with Section 289 of the Companies Act 2019 (Act 992) which implies that a company may be struck off the register of companies for failing to file its annual returns on time or failing to notify the Registrar of Companies of a change in the registered office and principal place of business of the company,” he explained.

The Registrar General said that “You are required by law to file your returns 18 months after incorporation, and every year thereafter, if for any reason you are not doing business, always come and file and let us know that you’re not doing business.