General News of Tuesday, 4 June 2024Source: www.ghanaweb.comThe Office of the Registrar of Companies (ORC) is set to delist over 500,000 public and private business names and companies by the end of June 2024 due to non-compliance with filing requirements. The affected entities include more than 8,000 companies limited by shares and over 500,000 business names that have failed to file their annual returns to maintain good standing. According to a press release by the Registrar of Companies, Jemima Mamaa Oware, in Accra on June 3, 2024, companies struck off the register are prohibited from conducting business under the company name for twelve years, as per Section 289 (5) of the Companies Act 2019 (Act 992). Business names will lose their exclusive rights and fall into the public domain following deregistration, in line with section 59(A) of the Registration of Business Names 1962 (Act 151). Companies and businesses in default are urged to file their Annual Returns and Renewals as directed by the Registrar of Companies before the validation process ends on June 30, 2024.

Source: GhanaWeb June 04, 2024 11:14 UTC