What is a Register of Beneficial Owners?
A "beneficial owner" is an individual who ultimately owns or controls a company, either directly or indirectly.FeaturedWhat is a Beneficial Owner?
A "beneficial owner" is an individual who ultimately owns or controls a company, either directly or indirectly.FeaturedCIPC Official Disclosure
CIPC Official Disclosure This document gives you all details about any enterprise, including the complete history of the enterprise. This certificate can be used officially for anything that requires a CIPC certificate. Reference: CIPC DISCLOSURE FORMS AND FEESFeaturedAuthorised Dealer
According to the Currency and Exchanges Manual for Authorised Dealers (13 December 2019) an authorised dealer can be defined as “a person authorised by the Financial Surveillance Department to deal in foreign exchange.” Regulation 14(2) of the Exchange Control Regulations, 1961, states that non-resident shareholders must ensure that tFeaturedAnnual Returns
Annual Return All companies (including external companies) and close corporations are required by law to file their annual returns with the CIPC on an annual basis, within a prescribed time period. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business/trading, or if it will be in business in the near future. The annual return may be regarded as a type of annual “renewal” of the company or close corporation registrationFeaturedMemorandum of Incorporation (MOI)
Memorandum of Incorporation (MOI) A Memorandum of Incorporation (MOI) is defined as a public document which sets out the rights, obligations and responsibilities of Shareholders, Directors, and Prescribed officers of the company and other matters as defined in the Companies Act. Reference: CIPC MOI AMENDMENTS & COMPANY SHARESFeaturedCompany Records
Company Records A record of its directors, including the following detailed information about each director:- the full name and any former names; the identity number or date of birth; the nationality and passport; the occupation; the date of their most recent election or appointment; the name and registration number of any other company or foreign company that the director is a director of; the address for service for that director; and any professional qualification and expFeaturedCertificate of Members Interest
A membership interest certificate refers to a certificate that is issued to a member of a close corporation to document his or her membership interest or ownership of the business.FeaturedShare Reorganisation
Share Reorganisation is a feature we have on InfoDocs that allows you to complete slightly more complex share transactions, such as, changing authorised shares, share buy-backs and cancellations. Reference: Category - SharesFeaturedMembers Interest
The member’s interest refers to the percentage ownership that each member has in the company. The contributions by members need not be in the same proportion as the members’ percentage interest. It is the members’ interests, and not their contributions, which determine the proportion in which profits and losses are to be shared. Reference: Members Interest - Professional Accountants and Tax Consultants (https://www.patc.co.za/membership-members-interest/:~:text=The%20member's%20interest%20refFeaturedShare Buyback
Repurchases or a buyback of shares are when a company that issued the shares repurchases the shares back from its shareholders. During a repurchase or buyback, the company pays shareholders the market value per share. With a repurchase, the company can purchase the stock on the open market or from its shareholders directly. Share repurchases are a popular method for returning cash to shareholders and are strictly voluntary on the part of the shareholder. Reference: Investopedia Repurchases andFeaturedAnnual Return
Annual returns are the yearly fees that must be paid over to the Companies Intellectual Property Commission (CIPC) in order to keep your company registered. With InfoDocs you can manage and submit all your annual returns from one place.FeaturedAuthorised Shares
Authorised shares are the total number of shares a company “owns” and is allowed to “sell.” The Memorandum of Incorporation of a company must set out the classes of shares and the number of each class that a company is authorised to issue. The company’s board of directors may increase or decrease the authorised share capital as the company grows.FeaturedShare Redemption
Redemptions are when a company requires shareholders to sell a portion of their shares back to the company. For a company to redeem shares, it must have stipulated upfront that those shares are redeemable. Reference: Investopedia Repurchases and RedemptionsFeaturedShares
Shares are known as the unit of ownership a shareholder buys from a company in order to enjoy certain benefits like voting rights and dividend rights. Shareholders are thus classified as the “owners” of the companies they purchase shares in.FeaturedWhat is an Affected Company?
An affected company is a regulated company or a private company that is a subsidiary of a regulated company. What is a regulated company? The following are regulated companies: Public Companies ("LTD") State-Owned Companies ("SOC") (unless exempt) Private Companies ("PTYPopularBeneficial Owner
On 29 December 2022, the Government Gazette published the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 which included amendments to the Companies Act 71 of 2008. TheFew readersWhat is a Regulated Company?
A regulated company is a company that is governed by Part B, Part C and Takeover Regulations of the Companies Act. Public companies and state-owned companies (unless exempt) are considered regulated companies. Private companies that are subject to the same regulations as per theFew readersWhat is an Affected Transaction?
An affected transaction is difficult to define but can be summarised as the following: Disposal of all or the greater part of the assets or business of a regulated company (unless as part of business rescue). An amalgamation or merger involving at least one regulated company (unless as part of business rescue). A scheme of arrangement between a regulated company and its shareholdersFew readersWhat is the CIPC?
The Companies and Intellectual Property Commission ("CIPC") is the South African government agency responsible for the registration and maintenance of companies and intellectual property rights, including patents, trademarks, and copyrights. It plays a critical role in the business landscape, enforcing compliance with relevant legislation and ensuring transparencFew readersWhat is a Related Person?
A person can either be a natural person (e.g. an individual) or a juristic person (e.g. company or trust). In terms of an individual, a related person is someone who is in a relationship with or family of the other person. This relationship could be marriage or something similar, such as living together. Family means separated by no more than two degrees of blood, marriage or adoption.Few readersWhat is a Subsidiary?
A subsidiary relationship is one where a juristic person (e.g. a company or a trust) is owned or controlled by another juristic person. This control could be in the form of direct or indirect ownership, majority voting rights, or the ability to appoint the directors who control the company.Few readersConsolidated Transfer
Say you have two shareholders called Jane and Joan who want to sell their shares to John. To start, Jane holds 50 shares on Certificate No. 1, Joan holds 50 shares on Certificate No. 2 and they want to transfer their shares so that John will hold 100 shares on Certificate No. 3. In the Register of Transfers, both transactions will show as being transferred from Certificate No.'s 1 and 2 to Certificate No. 3. The result wFew readersSplit Transfer
Say you have a shareholder called John who wants to sell his shares to Jane and Joan. To start, John holds 100 shares on Certificate No. 1 and wants transfers his shares so that Jane will hold 50 shares on Certificate No. 2 and Joan will hold 50 shares on Certificate No. 3. In the Register of Transfers, both transactions will show as being transferred from Certificate No. 1 to Certificate No.'s 2 and 3 respectively. This is what weFew readers