Office of Registrar of Companies Releases List Of Churches, CSOs That Will Be Struck Out

The Ghanaian government has announced that it will be striking off 2,812 entities from its register of companies by the end of June 2023.

These entities have failed to file their Annual Returns and financial statements for more than five years, which is a legal requirement.

The process will affect various organizations, including charity organizations, foundations, non-governmental organizations (NGOs), international NGOs, and entities registered under corporations limited by guarantee.

The Registrar of Corporations, Jemima Mamaa Oware, stated that out of the previously published list of 2,989 entities in default, only 116 have filed their Annual Returns together with their Financial Statements, which puts them in good standing. This means that the majority of these entities are no longer in operation or have failed to comply with the legal requirements.

According to the statement, the government will be fully implementing section 126 (7) of the Companies Act, 2019 (Act 992) for the first time.

This section states that a company that defaults in complying with the filing of Annual Returns and Financial Statements, as well as every officer of the company that is in default, will be liable to pay an administrative penalty of Twenty-Five (25) penalty units for each day during which the default continues.

The Registrar’s announcement serves as a warning to all companies to ensure that they comply with the legal requirements of filing their Annual Returns and financial statements. The process of striking off these entities will prevent the public from being misled by the existence of inactive or defunct entities on the register of companies.

The names of some of the organizations that are most likely to be struck off have been listed, including some well-known entities such as Ghana Technology University College, Ghana Center for Democratic Development, Ghana Chamber of Mines, and the Ghana Institute of Architects.

These organizations have been given until the end of June 2023 to comply with the legal requirements to avoid being struck off the register.

The Ghanaian government’s decision to strike off 2,812 entities that have failed to file their Annual Returns and financial statements for more than five years is a necessary step to ensure that the register of companies remains up-to-date and accurate.

It also serves as a warning to other companies to comply with the legal requirements to avoid being struck off.

CHECK THE LIST HERE

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