The Corporate Affairs Commission (CAC) has announced the commencement of a new round of delisting companies that have failed to comply with the requirements of the Companies and Allied Matters Act (CAMA) 2020.
The commission made the announcement in a public notice on Tuesday.
CAC also disclosed that the names of affected companies have been published on its website, urging both the companies and the general public to verify the list.
It stated that companies failing to file their Annual Returns and update records of Persons with Significant Control (PSC)/Beneficial Ownership within 90 days of the publication will be struck off the Register.
The Commission noted that this enforcement is in accordance with Sections 692 (3) and (4) of CAMA 2020.
It also warned that companies delisted for non-compliance will lose their corporate status and associated legal rights.
The notice read, “The General Public is hereby informed that the Corporate Affairs Commission (the Commission) has commenced another round of striking off companies that have not complied with the provisions of the Companies and Allied Matters Act 2020 from the Register in accordance with the requirements of the Act.
“The Companies whose names are to be struck off have been published on the Commission’s website. Companies and the General Public are advised to check the website for the list of the affected companies.
“The affected companies should note that any company that fails to comply with the provisions of the Act by taking steps to file its Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) up to date within 90 days of this publication shall be struck off the Register.
“The General Public is advised that it shall be unlawful for any company struck off the Register to carry on business, having lost right over the entity. This notice is pursuant to Section 692 (3) and (4) of the Companies and Allied Matters Act 2020.”
