The Office of the Registrar of Firms (ORC) has ordered the dissolution of about 8,531 Limited by Shares because they did not comply with filing requirements by the end of May of this year.
To comply with Section 126 of the Companies Act 2019 (Act 992), dormant firms and those that have not, have to be removed from the Register.
This was revealed by the Registrar of Companies at the ORC, Jemima Oware, in an interview with Dwaso Nsem on Tuesday’s morning broadcast on Adom FM.
She pointed out that, by the Companies Act, this decision comes after two years of intensive awareness campaigns and many announcements via various media outlets and the ORC website.
She stated, “Some companies have not followed the directive to file their annual returns and update their records, despite these efforts.”
In response, the ORC declared that, strictly in compliance with the Entities Act, 2019 (Act 992), defaulting entities would be subject to a one-time administrative penalty of GH¢1,000 as of May 1, 2024.
The ORC also reminded the public that businesses that are removed from the register cannot continue to do business under their registered names for twelve years.
On the other hand, Mrs. Oware made it clear that, by Section 289 (7) of the Companies Act 992, the Registrar of Companies must only be ordered by a court to reinstate a struck-off company.
