The Registrar of the Office of Registrar of Companies, Jemima Oware, has hinted her outfit’s prestige center will be functional by the end of November once they migrate to a new system.

The center is designed to cater for the needs of clients and ensure that they can register their businesses within 24 hours by paying GHC 1000 in addition to the normal fee charged for registration of companies which is GHC 450.

This came to light during an engagement with GUTA to address common challenges and inform them about ORC’s resolve to send out company inspectors beginning in 2024 to check the statutory books of companies.

Jemima Oware also indicated that companies that have failed to renew their registration and file their annual returns will be struck out from their records. Failure to file annual returns will attract 25 penalty units which will apply to each other defaulting companies fail to file their annual returns.

Members of GUTA who were present at the meeting led by the Greater Accra Chairman, Nana Peprah assured that they will comply but added that ORC should participate in their meetings to update them on regulatory changes.

The Office of the Registrar of Companies (ORC) took over the registration of businesses from the Registrar General’s Department in compliance with the Companies Act, 2019(Act 992).

Functions of the ORC include serving as the regulator of insolvency practitioners under the Corporate Insolvency and Restructuring Act 2020 (Act 1015) and its Amendment, (Act 1031) as well as the official liquidator for government institutions.

The Registrar General’s Department now performs other functions which include the registration of marriages, industrial property rights, public trusts, and administration of estates.

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