CIPC Takes Action on Filing Enforcement
The South African Companies and Intellectual Property Commission does not take non-compliance lightly. In a recent move, the CIPC’s power to impose administrative fines on those entities that ignore compliance notices was confirmed by the SA High Court.
With a strong mandate to engage in matters relating to non-compliance, the CIPC strives to ensure that high standards of corporate governance and transparency are adhered to. This high court ruling reaffirms both the CIPCs commitment to their cause, as well as a ‘gentle’ reminder to those considering a black hat approach to financial reporting that it might not be their best strategy.
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