The Registrar Generals Department (RGD) has finalised the move to strike out about 220 institutions from the list of Company Register, beginning October 1^st, 2021.

This move follow failures by the companies to update their profile and filing of returns for several years, despite being reminded by the department.

Registrar General Jemima Oware told Joy Business that her outfit has reached out to most of these recalcitrant firms and ready to delete their names. 

“Companies due for strike off will be published on both the Registrar General’s Department website and the national dailies. This is to enable debtors and creditors to approach the department and finalized all outstanding business negotiation before the final deletion” she said.

A company status at this period would be classified as being inactive and would not be able to be accessed for any business transaction for the next 12 years, except by a Court Order to the Department for reinstatement to good standing in the Companies Register.

Meanwhile, officials of the dormant and defaulted companies are being contacted by the RGD to file their Returns before the end of September, 2021, if they still want to continue with their business under the registered names.

Companies are required by the Companies Act 2019 (Act 992) to update their records and file their financials with the Registrar-General 18 months after incorporation and at every financial year, whether the company was in business or not in operation.

Affected companies’ ranges from financial services, domestic supplies, Small and Medium Enterprises, agribusiness and small scale retail businesses. This is the first time in the year that the RGD is embarking on this exercise after several attempts to get some of these companies to redeem their obligations failed