Business Compliance Regulations

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As per the Companies Act it is the responsibility of every business owner, director and departmental head to comply with the companies act. If you are not then possible penalties can be imposed upon you.
Compliance Hub in association with Lanham Love Attorneys has developed an Audit to ensure that you are up to date with the legislative requirements. We can ensure that your company is on the right side of the law.
Below is a short sample of some of the audit checks:

Legislative Compliance:

20.1. Any documents, accounts, books, writing, records or other information that a company is required to keep in terms of this Act or any other public regulation must be kept:


Practical Compliance:

21.1. The documents cited above must be retained for a period of 7 years or any such shorter period of time where the company has existed for a shorter period of time.

21.2. The register of members and register of Directors of a company, must, during business hours or reasonable periods be opened to inspection by any member free of charge and by any other person upon payment of each inspection of an amount not more than R100, 00. (Section 26: Access to Company Records).

Section 26(6): Penalty Clause:

Section 26(6) sets out that it is an offence for a company to:

22.1. Fail to accommodate any reasonable request for access, or to unreasonable refuse access, to any record that a person has a right to inspect or that a person has a right to inspect or copy in terms of this Section; or

22.2. To otherwise impede, interfere with, or attempt to frustrate the reasonable exercise by person of their rights set out in this Section