The Office of the Registrar of Companies To Charge More For Services

The Office of the Registrar of Companies (ORC) informs all Company Officials, Business Owners and the general public that there have been changes in the Fees and Charges on all transactions, including the Incorporation and Registration of Businesses, Amendments and the filing of Annual Returns effective 1st January, 2023.  In a statement signed by Jemima Mamaa Oware, Rigistrar of Companies, this is in accordance with the Fees and Charges (Miscellaneous Provisions) Act, 2022 Act 1080 as passed by Parliament.The changes in Fees and Charges would apply to the registration and amendment of Business Names, Subsidiary Business Names, Partnerships, External Companies, Professional Bodies as well as the Incorporation of Companies Limited/ Unlimited by Shares and Companies Limited by Guarantee."From the 1st of June, 2023, the ORC would, for the very first time be fully implementing section 126(7) of the Companies Act, 2019 (Act 992) which states that ‘where a Company defaults in complying with the filing of Annual Returns and Financial Statements, the Company and every officer of the company that is in default is liable to pay to the Registrar an Administrative Penalty of Twenty-Five penalty units for each day during which the default continues’," she further stated.The ORC from June 2023 is also going to fully enforce the penalty for failure to comply with the statutory provision on Annual Renewal of Partnerships registration.From this year, failure to renew a Business Name (Sole Proprietorship)/Subsidiary Business Name for a period of 3 months after the year has ended would lead to the Lapse of the Business Name/Subsidiary Business Name.

 To avoid such Business Names falling into the public domain and for anyone of interest to use it after it has been struck off the Business Names Register, Business Name owners can electronically renew their Businesses by dialing the Unstructured Supplementary Service Data (USSD) Code *222# and follow the prompt to make payment with their Mobile Money wallet on the Ghana.Gov payment platform.

CHANGE IN FEES AND CHARGESThe Office of the Registrar of Companies (ORC) informs all Company Officials, Business Owners and the general public that there have been changes in the Fees and Charges on all transactions, including the Incorporation and Registration of Businesses, Amendments and the filing of Annual Returns effective 1st January, 2023.  This is in accordance with the Fees and Charges (Miscellaneous Provisions) Act, 2022 Act 1080 as passed by Parliament and earlier indicated in our Press Release dated 14th November, 2022.The changes in Fees and Charges would apply to the registration and amendment of Business Names, Subsidiary Business Names, Partnerships, External Companies, Professional Bodies as well as the Incorporation of Companies Limited/ Unlimited by Shares and Companies Limited by Guarantee.

Company Secretaries and Auditors should therefore kickstart the processes in getting these mandatory documents ready and on time to avoid paying this very punitive Administrative Penalty and sanction and push their Companies into a state of inactivity.The ORC from June 2023 is also going to fully enforce the penalty for failure to comply with the statutory provision on Annual Renewal of Partnerships registration.The Incorporated Private Partnerships Act,1962 (Act 152) section 8 (1) states that: ‘‘Once in every year, the Partners of a Partnership SHALL deliver to the Registrar for registration a Statement in the Prescribed Form renewing the registration.  Section 9(1), in the event of default in complying with sections 4,5,7 or 8 of Act 152, (a) Every Partner SHALL be liable to a fine not exceeding five (5) pounds for each day during which the default continues; The cost of five (5) British Pounds in Ghana Cedis per the current Bank of Ghana Foreign Exchange rate is Ghc60.00.Partnerships, especially Auditing Firms on the Register, are to note accordingly and put their Books in order to renew the Partnership Registration and avoid paying this punitive penalty.Additionally, the ORC is going to enforce section 5A (2) of the Registration of Business Names Act, 1962 (Act 151) on Annual Renewals.

This states that “without prejudice to any other liability prescribed by this Act, a registration which is not renewed in accordance with this section shall LAPSE and the Registrar may remove from the Register the Business Name of the person whose Registration has lapsed after the expiration of the period prescribed for the renewal”.From this year, failure to renew a Business Name (Sole Proprietorship)/Subsidiary Business Name for a period of 3 months after the year has ended would lead to the Lapse of the Business Name/Subsidiary Business Name.

 To avoid such Business Names falling into the public domain and for anyone of interest to use it after it has been struck off the Business Names Register, Business Name owners can electronically renew their Businesses by dialing the Unstructured Supplementary Service Data (USSD) Code *222# and follow the prompt to make payment with their Mobile Money wallet on the Ghana.Gov payment platform.

The expedited/express services would be available at the Head Office in Accra and some Regional Offices when it commences after the first half of this year.All Company Secretaries who are yet to comply with the directives issued by the ORC on the Name Changes in the Companies Act, 2019 (Act 992) are to submit a Special Resolution for a change of their Company Name by adding the appropriate ‘suffix’ to the end of their Company Name.