CIPC Annual Report V1

Companies and Intellectual Property Commission Annual Financial Statements for the year ended 31 March 2021 Notes to the Annual Financial Statements

2021

2020

R '000

R '000

32. Related party transactions

Related parties are identified as being those parties that control or have significant influence over the CIPC and those parties that are controlled or significantly influenced by the CIPC.

Department of Trade, Industry and Competition (the dtic)

Transactions 31 March 2021

Balance due as at 31 March 2021

Transactions 31 March 2020

Balance due as at 31 March 2020

Expenses

Lease of building Telephone costs

20 266

1 689

18 424

-

745

251

860

64

Internet costs

1

-

30

-

Subtotal

21 012

1 940

19 314

64

21 012

1 940

19 314

64

The dtic

The Executive Manager: BISG was seconded to the DTIC for the period 01 November 2020 to 18 January 2021.

The remuneration relating to the secondment preiod amounting to R460 thousand was bourne in full by the CIPC. This constituted a non-arms length transaction.

The dtic group

The CIPC forms part of the dtic portfolio and the related entities are included in the table below. The CIPC did not transact with any of the dtic group entities during the current year.

Income (Dislosure of information)

The CIPC registry services are rendered free of charge to other National and Provincial government departments and entities. The total amount for such services cannot be quantified.

`

Name

Relationship

Department of Trade, Industry and Competition (dtic) BBBEE Commission Companies Tribunal Competition Commission Export Credit Insurance Corporation of South Africa National Consumer Commission (NCC) National Consumer Tribunal (NCT) National Credit Regulator (NCR) National Empowerment Fund (NEF) National Gambling Board (NGB) National Lotteries Commission (NLC) National Metrology Institute of South Africa National Regulator for Compulsory Specifications (NRCS) South African Bureau of Standards (SABS) South African National Accreditation System (SANAS)

Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group Member of the dtic group

35

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

105