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ARTICLE · 02 AUGUST 2023

Company Responsibilities Update

Nexia SAB&T
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The Companies and Intellectual Property Commission (CIPC) has implemented the requirement to upload the Beneficial Ownership (BO) information annually to CIPC.

South AfricaCorporate/Commercial Law
Nexia SAB&T
Nexia SAB&T
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Member/Director responsibilities

The Companies and Intellectual Property Commission (CIPC) has implemented the requirement to upload the Beneficial Ownership (BO) information annually to CIPC. The Companies Act now defines a beneficial owner as an individual who, directly or indirectly, ultimately “owns” or exercises “effective control” of a company.

CIPC

Please download and follow the instructions within the PDF to be in compliance with the new updates as soon as possible.

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Trustee responsibilities

The new duties most recently imposed on trustees not only involve substantially more administration than ever before but also entail strict deadlines and hefty penalties.

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