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The information required to be uploaded to CIPC includes a certified copy of the extract
of the company securities register, a certified copy of its register of disclosure of
beneficial interests, a certified copy of each beneficial owner’s identity document, and
a Special Power of Attorney authorising the filer to submit the information on behalf of
the entity.
Failure to comply with this obligation will result in a Compliance Notice being issued by
CIPC, and possible administrative penalties being imposed.

The Mandatory Compliance Checklist
CIPC requires that a mandatory Compliance Checklist be completed and submitted
by all categories of companies whose annual financial statements are audited or
independently reviewed. This requirement does not apply to a close corporation. The
checklist is required to be submitted within 30 business days after the anniversary of
the company’s date of incorporation. The period for which the company declares its
compliance is to be known as its “Compliance Year”, and is aligned to the anniversary
date of its incorporation.
The Checklist requires that the company declare its compliance status to certain
Sections, Regulations and Schedule 1 of the Act, as follows: Section 4: Solvency and
Liquidity, Section 15: Memorandum of Incorporation (MOI), shareholder agreements and
rules, Section 26: Access to company records, Section 27: Financial year of company,
Section 28: Accounting records, Section 29: Financial Statements, Section 30:
Annual Financial Statements, Section 32: Use of company name and registration
number, Section 33: Annual Return, Section 44: Financial assistance for subscription
of securities, Section 45: Loans or other financial assistance to directors, Section 50:
Securities Register and numbering, Section 61: Shareholders meeting, Section 66:
Board, directors and prescribed officers, Section 69: Ineligibility and disqualification
of directors/prescribed officers, Section 70: Vacancies on board, Section 72: Board
committees, Section 86: Mandatory appointment of company secretary, Section 90:
Appointment of auditor, Section 92: Rotation of auditor, Section 94: Audit committees,
Regulation 21: Registered office of the company, Regulation 43: Social and Ethics
Committee, Schedule 1: Provisions concerning Non-Profit companies.
These Sections, Regulations and Schedule 1 are expanded on throughout this guide, and
are indicated with a green arrow to indicate that they are applicable to the Checklist.
It is ultimately the responsibility of the directors to ensure compliance and completion
of the Checklist. Any person who completes it incorrectly or fraudulently can be held
responsible, as follows:
■ Section 215(2)(e): a person commits an offence who knowingly provides false
information to the Commission

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