New E-Services Registration – Online for Co-operatives in South Africa
In its efforts to ease the process and reduce the filing burden of South African companies, the CIPC has introduced a new e-registration service for co-operatives. Earlier, the new application of co-operatives was lodged by a third party on behalf of the co-operative, wherein the following documents were required to be submitted physically to the CIPC:-
● Form CR1/COOP1
● A constitution needs to be submitted as a part of the main application form.
● Certified id copies
● Name reservation confirmation COR9.4
However, with this new e-services introduction by the CIPC, co-operatives independently can now register online without the need of a third party.
Who is Eligible for these e-service?
The following constitutions are eligible to file for registration via the E-services portal:-
● Non-specific Model Constitution
● Agricultural Model Constitution
● Social Model Constitution
● Worker Model Constitution
● Housing Model Constitution
Every co-operative need to take note of the following requirements concerned with the registration of the constitution laid down by the CIPC:-
All co-operative members are required to upload the signed pages of Co-op1, constitution, and certified id copies. Furthermore, CIPC will not be returning the copies of the submitted constitution after the registration process, except for copies sent via email for signatures.
So the co-operatives are advised to keep a record of the original copy of the constitution for reference and safekeeping.
The financial services co-operatives where permission must be obtained from the Co-operative Bank Development Agency (CBDA) are not eligible to file for registration via the e-services portal.
Note: These requirements need to be complied with from the date of the new e-services online functionality.
For further information concerned with the new application process, please refer to the CIPC website.
To stay up-to-date with the changing requirements of the CIPC and expert guidance for iXBRL service, speak to our expert @ +27-10-446-9061. Please follow the DataTracks blog for more updates.