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Monday, November 1, 2010
Update your details

The Companies and Intellectual Property Office (CIPRO) is calling for all company directors to update their details on its website.

Pursuant to the review of the electronic lodgement of change of directors (CM29) functionality, the enhanced service has been developed and was to be ready from the 8th October 2010. In this regard it is essential for all companies to update their directors’ details as of 1st October 2010.
Lungile Dukwana, Acting Chief Executive Officer said, “CIPRO is committed to mitigate unauthorised change of directors on its database and to establish improved communication between CIPRO and company directors and officers. Furthermore, CIPRO will communicate with relevant company directors and officers to encourage good corporate governance, hence the implementation of the enhanced functionality in affecting changes to company directors.”
This will require that e-mail communication be sent to the relevant directors and officers with a code to unlock the company directors’ profile. Although the information is non-statutory, it is necessary for pro-active notification. Look under the ‘Companies’ option on the website.
It is advisable that company directors and officers update these details themselves to ensure correctness and validity. This will not form part of the public disclosure process nor the data sales process. Instead such details will remain confidential.
Although the one-day password provided by CIPRO for customer verification process remains valid, the new code issued to relevant company directors and officers will serve to notify them directly of any intended change. Therefore, company directors and officers that make the code available to their accounting officers or any other person to affect changes on the company’s behalf have to ensure that such person has the relevant mandate.

Copyright © Insurance Times and Investments® Vol:23.11 1st November, 2010
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