S25 Location of Company Records

COMPANIES ACT AMENDMENTS NO. 16 OF 2024

Registration of Address with CIPC on the Location of Company Records
Amendments to Section 25 of the Companies Act

The amendment requires CIPC to publish, “as prescribed,” the Notice of Location of Company Records, which companies are required to file with CIPC if their various statutory and accounting records are held at a different address than their registered office address. Considering that the Location of Company Records address is linked to the right of access to certain records and information by shareholders and members of the public, it is surprising that this amendment was necessary. Although it is not yet clear how these filings or addresses will be published by CIPC, it is presumed that the amended regulations will permit CIPC to add the address to companies’ official and free disclosure certificates, which are accessible by the public on the CIPC website.

CIPC is now required to publish the location of a company’s statutory and other prescribed records if they receive a filing advising them that the address is different from the company’s registered office.
This relates to pertinent records of a company, including the company’s Share and Directors Registers, minutes, Annual Financial Statements, and accounting records.

Companies that make use of company secretarial advisors or accountants to store and maintain their Company Combined Registers, Memorandum, etc., would need to ensure that the service provider’s address is appropriately registered with CIPC as the Location of Company Records to ensure compliance with this section of the Companies Act. In the absence of such registration, the records should be accessible from the company’s registered office address as registered with CIPC.

The Companies Act Amendments 2024:

Pertinent changes were made to our South Africa Companies Act recently after the Companies Amendment Act 2024, No. 16 and the Companies Act Second Amendment, 2024 No. 17 were ascended into law on 25 July 2024.

The amended provisions are not yet operational and will come into effect after President Cyril Ramaphosa makes proclamation in the Gazette as to the effective date.

Statucor continues to unpack the amendments and the effect that they may have on our valued clients, and we look forward to publishing further communications on our observations in future. Click here for a full summary of all changes made to the Companies Act through the 2024 Amendments or view our News page for our latest articles on the Companies Act, Governance and Compliance matters that may be pertinent to you.