Nationwide inspection of companies, businesses to begin from March 25 - Registrar of Companies

The Office of the Registrar of Companies (ORC) is set to embark on a nationwide inspection of companies and businesses to ensure compliance with the laws governing the various business entities in Ghana.

The exercise will commence from Monday March 25, 2024, and will be carried out across all regions.

In a statement issued and signed by the Registrar of Companies, Jemima Oware, the exercise is pursuant to section 35 of the Companies Act 992.

It noted that ORC inspectors with their identification tags will visit all business and company premises to inspect their books and registration documents.

They will also educate them on how to be compliant with the laws governing businesses and companies.

The various documents to be inspected include;

• Certificate of Incorporation (For Companies and Partnerships)

• Certificate of Registration (For Business Names/Sole Proprietorships)

• Combined Register with information on Directors and Members

• Compliance status i.e. Filing of Annual Returns and Amendments

• Update of Company and Business details with current information of the Businesses.

The ORC however urged the public, businesses and companies to collaborate with its inspectors for the exercise.

It emphasized that failure to comply with provisions of the Companies Act 2019, (Act 992) will incur a fine of not less than 150 penalty units or not more than 250 penalty units or to a term of imprisonment of not less than one year or not more than 2 years or both as stipulated in Section 35(15) of the Companies Act, 2019 (Act 992).

“The Office will also apply sanctions provided for in the various Acts governing Businesses and its operations if not compliant with the law,” the ORC concluded.

MA/NOQ

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