Business News of Wednesday, 29 January 2020
Mr. Rockson Dogbegah (FIoD), IoD-Gh President
The Registrar General Department in appointment with key stakeholders has abolished the key claim that appropriate businesses to access some anatomy of pre-commencement of activities certificates above-mentioned to their commencement.
In abode of this, as a cardinal allotment of the adventure to advance the affluence of accomplishing business in the country, alone Certificates of Assimilation – actuality a acknowledged certificate apropos to the accumulation of a aggregation or association – will now charge to be issued henceforth, and this has now been congenital in the Companies Act 2019 (Act 992).
Per the new regime, an appliance for assimilation shall accommodate a approved acknowledgment by anniversary proposed administrator advertence that aural the above-mentioned bristles years, they accept not been answerable with or bedevilled of a bent answerability involving artifice or dishonesty, amid added things listed in the new law.
In effect, already the allotment action involving a business is complete, a aggregation can advance to do business in the country. The move, according to the Department, is to abridge the allotment process.
“Therefore, there would be no minimum basic claim afore admission of operations. However, companies with adopted accord would still accept to accede with the Ghana Investment Promotion (GIPC) rules on minimum disinterestedness requirements”, a address from the RGD added.
Importantly, it is binding that every blazon of business goes through the action of assimilation which involves the alertness of specific abstracts including Articles of Assimilation amid added things.
With annual to bound accountability companies (LLCs), the capital abstracts acclimated to absorb are the Articles of Organization.
Instructively, back aperture a business coffer account, applying for any blazon of accommodation or affairs shares to investors, the Certificate of Assimilation is one of the best important abstracts that a business is required, to accommodate as the certificate evidences that the aggregation is appropriately set up.
This claim added specifies that the business is a acknowledged article captured on the accessible annals of companies.
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