CIPC Annual Report V1

• On 1 October 2020, the latest XBRL taxonomy updates were implemented successfully. These include the 2020 International Financial Reporting Standards updates as released by the International Accounting Standards Board (IASB) as well as the GRAP standard of the South African Accounting Standards Board (SAASB). • A XBRL Specialist was appointed in October 2020 and this has gone a long way in introducing stability. The availability of the functionality for filing online and its integration with Annual Returns under “Hard-stop” capability, contributes positively to the sustainable filing volumes. • The Annual Return functionality was released on the BizPortal channel on 8 March 2021. Annual Returns can be filed via SSCs, e-services website, the mobile app and BizPortal. This makes it easier for customers to file annual returns via a channel of their convenience. Timely delivery of the CIPC services • Automation of business processes continued resulting in reduced turnaround times. • Company registration average turnaround times was two working days. • Co-operatives registration average turnaround times was two working days. Increased knowledge and awareness on company and IP laws Education and awareness is the CIPC function outlined in the Companies Act (2008, as amended). The CIPC conducted education and awareness sessions, including training and exhibitions. In some instances, the CIPC collaborate with other organisations or is invited to events to present or exhibit on CIPC products and services. • During the period under review, the CIPC hosted various webinars and participated in online events and webinars upon invitation from external stakeholders on matters regarding the Companies Act and related legislation, in order to further knowledge of customers and the public in terms of legislative compliance and CIPC services. This includes the Cooperatives Amendment Act, Director Duties, the AFS and the XBRL. • 47 education and awareness session were held. • In addition, customers were assisted on CIPC Facebook with their queries. A service provider was appointed to develop translated compliance videos from English into three other South African languages.

(v) Commence proceedings in a court in the name of the complainant, if the complainant— -- Has a right to apply to a court. -- Has consented to the Commission to do so. (iv) Refer the matter to the NPA, or other regulatory authority, if Commission alleges that a person has committed an offence in terms of this Act or any other legislation; or (vii) issue a compliance notice in terms of section 171. List of sub-programmes 1. Corporate Compliance and Enforcement a) Corporate Disclosure and Compliance b) Corporate Governance, Surveillance and Enforcement 2. Corporate Registers a) Companies and Close Corporations (CCs) b) Co-operatives c) Directors, Members and Practitioners d) Trade marks 3. Legal Policy and Outreach a) Corporate Education and Voluntary Compliance b) Corporate Legal and Policy Support Outcome to which Programme 3: Business Regulation and Reputation contributes:

Outcome 1: Reduced administrative regulatory burden.

Strategic objectives

1.1 24/7 access to the CIPC’s services.

1.2 Timely delivery of the CIPC’s services.

Outcome 2: A reputable business and IP protection environment.

1.1 Increased knowledge and awareness on IP laws.

1.2 Improved compliance with IP laws. Progress towards achievement of outcomes and strategic objectives 24/7 access to CIPC services • During Quarter 4, the current version of the annual return filing application was released on BizPortal (8 March 2021). The process for the redevelopment of the annual return filing application, with enhanced functionality commenced during the latter part of quarter 3. It is estimated that the enhanced annual return filing application will be released during the first half of 2021/2022 (no confirmed date has been determined).

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

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