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All About the CIPC and Its Functions

  • Every individual who strives to register a company name refers to the CIPC website.
  • Filing of annual returns? CIPC’s online portal is the solution.
  • What do you do if you need to officially add/remove a director from your company? File an application on the CIPC website.

You must have been dealing with CIPC since the inception of your company. But how many of you know what the CIPC is, who established it, and where it came from?

Let’s help you uncover the history of CIPC and its functions.

An Introduction to CIPC and its functions

Established by the Companies Act, 2008, the Companies and Intellectual Property Commission (CIPC) is an agency or regulator of the Department of Trade and Industry in South Africa. The agency was introduced to overcome the inefficiency, poor services, and large backlogs of its predecessor, the Companies and Intellectual Property Registration Office (CIPRO).

The financial data, company regulations, and the officials were in disarray when CIPC took over. Over the years, CIPC has established itself as a regulator of every company registered in South Africa.

 

Functions of the Commission

The main functions of the CIPC include:-

  • Registration of companies, co-operatives and intellectual property rights, including trademarks, patents, designs, and copyrights.
  • Disclosure of information on its business registers.
  • Promotion of awareness and education about the company and intellectual property law.
  • Efficient and effective enforcement and implementation of relevant legislation.
  • Monitoring and overseeing compliance with financial reporting standards and making recommendations for improvements to the Financial Reporting Standards Council (FRSC).
  • Licensing business rescue practitioners.
  • Research, analyse, report, and advise the minister on matters of national policy related to the company and intellectual property law.

 

Which Companies are Covered Under the CIPC?

  • State-owned companies
  • Public companies
  • Personal liability companies
  • Profit companies
  • Non-profit companies

If your company/business falls under any of the above-mentioned categories, you must comply with the filing requirements laid down by the CIPC.

A reputable and dependable service provider like DataTracks is what you need. With over 16 years of experience, the experts at DataTracks have gained prowess in iXBRL conversion and compliance. DataTracks has successfully delivered 1,95,000 reports to over 19,400 clients worldwide and has established itself as a pioneer in the iXBRL domain.

For more information about CIPC or the latest updates from the agency, speak to a DataTracks expert @ +27-10-446-9061 or email @ enquiry@datatracks.co.za.

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