A few years ago, the Companies and Intellectual Property Registration Office (CIPRO) was replaced by Companies and Intellectual Property Commission (CIPC). Since this new act came into being, there has been a significant change in the way business owners register a company. The Act specifies that no registration of new close corporations can take place. However, the ones that have been registered before 1 May can continue functioning as CCs.
What are the functions of the Commission?
Types of entities covered by CIPC
A company gets incorporated by the lodging of Memorandum of Incorporation (CoR 15.1 A-E) and Notice of Incorporation (CoR 14.1). Such forms can be downloaded via CIPC’s website. The Memorandum of Incorporation (MoI) includes details such as information of incorporators, number of directors or alternate directors and share capital.
The Notice of Incorporation contains details such as type of company, date of incorporation, financial year-end, number of directors, name of organization, registered address(main office), whether the organization will require a registration number, reserved name and reservation number and list of four names that are checked by the Commission.
For registering a private entity you will require either CoR 15.1 A (for a usual private company) or CoR 15.1 B (for a customised private firm) and CoR 14.1. The documents which are required include certified ID copies for all indicated initial directors and incorporators, certified ID copy of applicant if it isn’t the same as the one shown by one of the indicated corporators or directors.
In case an incorporator is part of a jury, a power of attorney is needed for the authorized representative to incorporate the organisation and sign all related documents. If another person incorporates the firm and signs all documents for incorporators and initial directors, a certified ID of a person and power of attorney is needed. In case the name was reserved prior to the filing of incorporation of documents, a valid name reservation document is essential.