CIPC Requirements for Insolvent Voluntary Liquidations
The Companies and Intellectual Property Commission (CIPC) has issued a critical update for the filing of CM100 applications concerning insolvent voluntary liquidations. This notice, mandated by the Master of the High Court, specifies strict requirements to ensure accurate and efficient processing of these applications.
Effective immediately, all CM100 submissions, accompanied by Form CM26Liq for companies and close corporations initiating liquidation, must adhere to detailed guidelines as stated in Customer Notice 34 of 2024. This includes fully completed forms, proper commissioning by a traceable Commissioner of Oaths, and detailed Statements of Affairs. Additionally, all provided information must accurately reflect liabilities and assets to facilitate the appointment of qualified liquidators.
Failure to meet these standards will result in the rejection of the application. Moreover, submitting false or misleading information on the CM100 is a criminal offense under Section 214 of the Companies Act, 2008, and may lead to prosecution.
