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Tag: ORC

  • 65 registered professional bodies given till June 30 to be deregistered for non-compliance – ORC

    65 registered professional bodies given till June 30 to be deregistered for non-compliance – ORC

    Office of the Registrar of Companies (ORC) has announced that it has commenced legal proceedings to deregister 65 registered Professional Bodies (PBs) for their failure to submit annual accounts and update their Certificate of Membership.

    A professional body is an officially registered institution or group comprising trained and qualified members in a recognized profession.

    According to a statement released by the ORC and reported by GhanaWeb Business, this action is deemed necessary due to non-compliance with Section 16 of the Professional Bodies Registration Act, 1973, NRCD 143, with the Registrar of Professional Bodies.

    The ORC has set a deadline of June 30, 2024, for addressing this issue.

    “After meeting with the Executive Council Members of all registered Professional Bodies, the Registrar of Companies (ROC), who oversees Professional Bodies, instructed those in default for more than two years and had not updated their members’ certification to do so by the end of December 2023, or risk removal from the Professional Bodies Register as per section 11(b) of the Professional Bodies Act 1973 (NRCD 143),” the ORC explained.

    The Office further highlighted that among the 91 Professional Bodies, 65 have neglected to adhere to the directive to renew both their certificates and those of their members.

    As a result, they have been identified as defaulters.

    “However, Professional Bodies in default can still maintain good standing by submitting their Annual Accounts by June 30, 2024, the deadline for Annual Returns to the Registrar of Professional Bodies,” the statement emphasized.

    “The filing should include a copy of the Audited Accounts of the Body, an updated list of its Members, and any changes made to its Constitution before the removal of defaulters from the Register, which begins at the end of June 2024 in accordance with section 15 (1)(2) and 16(1)(2),” it added.

    The ORC stated that it will continue to conduct extensive awareness campaigns and public education on the importance of registered Professional Bodies being in compliance with the Office of the Registrar of Companies.

  • ORC partners with NITA to resolve temporary connectivity issue

    ORC partners with NITA to resolve temporary connectivity issue

    The Office of the Registrar of Companies (ORC) wishes to inform the general public and business community of a temporary connectivity issue currently being experienced.

    In a statement issued on May 3 and published by GhanaWeb Business, the ORC disclosed that it is collaborating with the National Information Technology Agency (NITA) to resolve this matter promptly and restore normal business operations.

    The ORC extends its apologies to all affected parties for any inconvenience caused by this situation.

    Established as a government agency under the Companies Act, 2019 (Act 992), the ORC is committed to facilitating business activities and offering services related to business registration, insolvency, and regulation. These efforts aim to enhance the country’s business environment.

    The ORC operates under the supervision of a governing board, which exercises full financial autonomy and manages internally generated funds.

  • ORC to begin inspecting companies today

    ORC to begin inspecting companies today

    The Office of the Registrar of Companies has announced that starting on Monday, March 25, it will begin conducting visits to various offices, businesses, and company premises to examine their records and registration documents.

    In addition to the inspections, the Office will provide guidance to businesses on complying with regulations related to their operations.

    According to a statement issued on Tuesday, March 19, inspectors from the Office of the Registrar of Companies will conduct the inspection process nationwide, covering all regions.

    Companies are advised to cooperate fully with the inspectors to facilitate a smooth exercise.

    “We urged all company officials and business owners to collaborate with our company inspectors for this exercise,” an excerpt of the statement said.

  • ORC to remove about 8,531 companies from its register

    ORC to remove about 8,531 companies from its register

    The Office of the Registrar of Companies (ORC) has initiated proceedings to deregister approximately 8,531 companies from its register.

    This move comes as a result of these companies failing to file their annual returns, along with the required fees and financial statements, for a period exceeding two years.

    The deregistration process is anticipated to conclude by May 2024.

    The ORC clarified that it had to take this step following two years of extensive awareness campaigns and numerous publications regarding these non-compliant companies in the media and on its official website, as mandated by the Companies Act, 2019 (Act 992).

    “Despite all the efforts by the Office of the Registrar of Companies to encourage stakeholders to file their returns, some companies have still not complied with this directive”.

    The ORC emphasized that the affected companies still have the opportunity to rectify their status by submitting their annual returns along with their audited financial statements to the office by the end of May 2024, before the process of striking off companies is finalized.

    Furthermore, the ORC stated that companies whose names are removed from the register will be prohibited from conducting business under that name for a period of 12 years. Restoration of these companies can only occur if a court finds sufficient cause and issues an order directing the Registrar of Companies to restore the delisted name.

    Additionally, the registrar cautioned these companies against making any payments to Mobile Money Accounts in the name of the Office of Registrar of Companies or the Registrar-General Department under any circumstance.

    “The Office does not operate or have a ‘Momo’ Account neither has the Office authoris.ed any person to act on its behalf in striking off names of Companies in default”.

    The Office of the Registrar of Companies has additionally announced that it will commence the implementation of an administrative penalty of GH¢1,000 against companies in default, starting from May 1, 2024. This measure aligns with the provisions outlined in the Companies Act of 2019.

  • 8,531 defaulting companies to be deregistered by May

    8,531 defaulting companies to be deregistered by May

    The Office of the Registrar of Companies (ORC) has initiated legal proceedings to deregister 8,531 companies Limited by Shares for defaulting by the end of May this year.

    The ORC stated that this decision is essential to cleanse the Register of inactive companies and those in default for failing to submit their annual returns and update their entity records in accordance with Section 126 of the Companies Act 2019 (Act 992).

    According to a statement released by the ORC and reported by GhanaWeb Business, this action comes two years after the Office undertook extensive awareness campaigns and published information about these companies in the media and on its website, as mandated by the Companies Act.

    Despite persistent efforts to encourage stakeholders to comply with filing requirements, some companies have not adhered to the directive, the ORC explained.

    In response to this, the ORC emphasized that starting from May 1, 2024, it will implement a one-off administrative penalty of GH¢1,000 against any defaulting company. This penalty will be strictly enforced in accordance with the Companies Act, 2019 (Act 992).

    The ORC also reminded company officials that businesses whose names are struck off are prohibited from operating under the company’s name for 12 years.

    Restoration can only occur through a court order issued by the Registrar of Companies, following a finding of sufficient cause, in line with Section 289 (7) of the Companies Act 992.

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  • ORC to acquire regional offices nationwide

    ORC to acquire regional offices nationwide

    Government has pledged its full support to the Office of Registrar of Companies (ORC) in acquiring permanent offices in all regions of the country.

    This move aims to enhance service delivery and promote ease of doing business in Ghana.

    Mr. Godfred Yeboah Dame, the Minister for Justice and Attorney General, emphasized the importance of establishing ORC offices in every region and district to facilitate business development at all levels.

    He made these remarks during the launch of the Office of Registrar of Companies and the inauguration of a new office complex in Kumasi.

    The three-story building, constructed at a cost of Ghc 8,000,000.00, boasts 34 offices, two conference rooms, a pantry, canteen, 21 washrooms, reception, and a security office.

    The financing for the project came from the internally generated funds of the Registrar General’s Department and the ORC.

    Mr. Yeboah Dame also mentioned that the government had successfully allocated $3,500,000.00 to acquire land for a permanent national office building complex for the ORC in Accra.

    The project’s drawings are set to be completed by September 2023, with the selection of a contractor to commence shortly afterward. The entire project is expected to be completed within two years.

    The Minister stressed that, when effectively utilized, the ORC could play a vital role in promoting good governance and the fight against corruption in the country.

    Mr. Seth Asante, Chairman of the Board of Directors, highlighted the ORC’s vision of becoming a first-class customer-centric organization, committed to providing quality services to enhance the ease of doing business in Ghana.

    Mrs. Jemima Mamaa Oware, the Registrar of Companies, revealed that the Office is in the process of automating and digitizing its operations, aiming to conduct all transactions online to alleviate congestion and offer prompt services to clients.

    The Ashanti Regional Minister, Mr. Simon Osei Mensah, commended the ORC for expanding its services to reach more Ghanaians, urging the management to maintain effective maintenance practices for the building’s longevity.

    Nana Ama Akyiaa Prempeh, the Ashanti Regional Head of the ORC, also expressed her appreciation for the collaboration between the board and management, which ensured the successful completion of the project.

    She reported that the new facility had significantly improved the organization’s services and increased business registrations in the Ashanti region.