BENEFICIAL OWNERSHIP REGISTER WEBINAR

CIPC has been mandated in terms of the General Laws Amendment Act, the Companies Act and its Regulations to establish a register of Beneficial Owners for all entity types registered in terms of the Companies Act and the Close Corporations Acts as amended
DATE: 13 June 2023
TIME: 10h00 to 12h30

[@AGWhitePublic]

Thank you @theCIPC, everyone who wants to know more about the requirements regarding the submission of Beneficial Ownership (BO) information and securities registers to the CIPC should find this presentation and the extensive questions and answer section of the video helpful.

[@millielurie9993]

What is the position with external companies? An external company is a mirror image of its parent
and is distinguished from a company by virtue of the definitions in section 1. Sections 50 and 33(1) not applicable and only 33(2) and reg 7A applicable to external co.

[@roneljansenvanrensburg5600]

Our company is a wholly foreign owned company with international shareholders and listed on a securities exchange (SIX Swiss Exchange). Do we still need to submit the information. And if so, will the company director based in RSA, but not a shareholder, details suffice?

[@theCIPC]

Kindly note, if your enquiry was not responded to during the Webinar, forward an enquiry to the Corporate Legal Department via the enquiry system. Log on to enquiries.cipc.co.za

[@Lippetooi]

The beneficial ownership only applies to shares that have voting rights, correct? Shareholders without voting rights are not considered a beneficial owner, irrespective of the amount of shares they have in the Company?

[@theCIPC]

Noted.

[@MsJune1978]

Is there an example of the disclosure form that is required?

[@theCIPC]

There is no standard format of the disclosure form.

[@KinoMalek88]

Please can the CIPC provide definitions for terms like "Original Mandate" and "Disclosure Form". I've spoken to dozens of people and googled it profusely and cannot get a straight answer out of anyone. Even the CIPC call center cannot properly define these terms and what these documents need to contain.

[@theCIPC]

Mandate to lodge is that is a document on a company's letterhead signed by directors that states that the person asking to effect a change has permission to do so.

[@userJanet]

Please can you advise where I can get the notes / guidelines for BO.

[@user-xf6yu7on8j]

what documents must be uploaded please for every company...

[@theCIPC]

Kindly follow the link to the User Guidelines: www.cipc.co.za/wp-content/uploads/2023/08/USER-GUIDELINES-BO-LEGISLATIVE-REQUIREMENTS_Aug-23.pdf

[@colettedebeer5041]

How do you submit a BO for an NPC without Members?

[@theCIPC]

Kindly note, if your enquiry was not attended to during the Webinar, you are welcome to forward an enquiry to the said Department. The email address is:
[e-mail]

[@shireenlutchan7627]

When will you have another session?

[@theCIPC]

Kindly note, a notice will be published on CIPC website and social media pages.