The Office of the Registrar of Companies (ORC) has informed all officials and leaders of Churches, Associations, Fun Clubs, Unions, Schools, and Civil Society Organizations (CSOs) that, it would commence the process of validating and striking off 2,812 of these entities in default for failing to file their Annual Returns together with their Financial Statements for more than five years.
This was stated in a press release signed by the Registrar-General, Mrs Jemima Oware, on Tuesday in Accra.
“The Public is being informed that from 30th June 2023, the ORC would, for the very first time, be fully implementing section 126 (7) of the Companies Act, 2019 (Act 992) which states that: ‘where a Company defaults in complying with the filing of Annual Returns and Financial Statements, the Company and every officer of the Company that is in default is liable to pay to the Registrar, an administrative penalty of Twenty-Five (25) penalty units for each day during which the default continues.
“This means that an administrative penalty of GHc300.00 (currently GHc12.00 per penalty unit) would be charged for each day the default continues against these Company and every Official of the Company in accordance with section 126 (7) of Act 992. The Office by this notice is urging Secretaries and Auditors of these defaulted entities to prepare all necessary documents to file their Annual Returns on time, to avoid paying this Administrative Penalty and sanctions and thereby push their Company into a state of inactivity,” it stated.
It noted that this exercise would also affect Charity Organizations, Foundations, Non-Governmental Organizations (NGOs) including Foreign NGOs and entities incorporated under Companies Limited by Guarantee.
“All Companies Limited by Guarantee that are currently in default can still be in good standing by filing their Annual Returns and Financial Statements in accordance with the Companies Act 2019 (Act 992), before the end of April 2023,” it added.
According to the statement, only 116 of the previously published list of 2,989 of these entities in default have filed their Annual Returns and Financial Statements in order to be in good standing.
The Office further reminded the public that under no circumstance should any Company Official make any Mobile Money (Momo) transfer to any ‘Momo’ account in the name of the Office of the Registrar of Companies or Registrar-General’s Department.
“The Office does not operate or have a ‘Momo’ Account neither has the Office authorized any person to act on its behalf on striking off Companies in default. Please be vigilant against Fraudster calls, texts and WhatsApp messages demanding such ‘Momo’ transfers,” it cautioned.
Patience Anaadem, ISD
