The Registrar General’s Department will begin the processes to delist 3,100 companies from the ‘records of companies’ from this month.
The first 3,100 is part of the more than 100,000 names that have been earmarked by the Department to be delisted by the close of the year.
“The delisting process is commencing with 3100 companies being taken off the companies register by being made inactive in the database. This is the first batch of companies to be delisted this month out of the over 100, 000 companies registered since 2011” it noted.
The move follows failure by these firms to update their records and file annual returns as mandated by law.
According to the Department in a press statement copied to Joy Business, the exercise has become necessary after the three months validation period elapsed.
The statement also noted that over 257,241 companies existing in the database have not filed their returns or amendments with the Department since 2011, whilst 670,282 companies in the legacy system had not carried out any update of their data dubbed “re registration” as of March 2020.
The Department used the opportunity to call on all businesses whether in operation or not to take measures to regularise their operations and update their records to avoid being delisted.
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