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NEWSFLASH: Extension of time for companies to re-register

The period within which all companies and private business corporations must re-register in terms of the new Companies and Other Business Entities Act has now been extended to 13th February 2023. Under the new the Companies Act, all companies and private business corporations were supposed to re-register by 13th February 2021 failing which they would be struck off the register and would no longer be able to carry on business as a company or private business corporation. The extension has been introduced by section 18 of the Finance Act No 8 of 2020 gazetted on 28 October 2020.