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The Office of the Registrar of Companies (ORC) in Ghana has initiated legal proceedings to deregister 8,531 companies limited by shares due to their prolonged default status spanning over two years.
According to a statement issued by the registrar Jemima Oware, this process is slated for completion by the end of May 2024. She said the exercise is aimed at cleaning the register of dormant entities and non-compliant companies that have failed to fulfill their obligation of filing annual returns and updating records.
Of the total number of companies facing deregistration, comprising both private and public entities, none have adhered to the registrar’s directives regarding annual return submissions, Oware explained. Consequently, they have been classified as defaulting entities and are scheduled for removal from the Companies Register by May 31, 2024.
Despite the impending deregistration, Oware highlighted that these companies still have the opportunity to rectify their status by submitting overdue annual returns, along with audited financial statements, to the ORC before the conclusion of the striking-off process in May 2024, reports Daily Graphic.
The ORC’s decision comes after a comprehensive two-year campaign involving extensive awareness efforts and multiple publications of defaulting companies in the media and official platforms.
Source: Daily Mail GH
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