CIPC Annual Report V1

Glossary of terms Annual returns – Filed by every company in the prescribed form with the prescribed fee, and within the prescribed period after the end of the anniversary of the date of its incorporation, including in that return— (a) a copy of its annual financial statements, if it is required to have such statements audited in terms of the Companies Act (Act 71 of 2008, as amended) as well as any other required information. Director – A member of the Board of a company, as contemplated in the Companies Act (2008, as amended) or an alternate director of a company and includes any person occupying the position of a director or alternate director, by whatever name designated. Financial reporting standards - With respect to any particular company’s financial statements, means the standards applicable to that company, as prescribed in the Companies Act (2008, as amended). Member - When used in reference to a non-profit company, means a person who holds membership in, and specified rights in respect of, that non-profit company, according to the Companies Act (2008, as amended). Memorandum of Incorporation - The document that sets out rights, duties and responsibilities of shareholders, directors and others within and in relation to a company, and other matters as contemplated in the Companies Act (2008, as amended). Non-profit company - A company— (a) incorporated for a public benefit or other object as required according to the

Companies Act (2008, as amended) and (b) the income and property of which are not distributable to its incorporators, members, directors, officers or persons related to any of them except to the extent permitted according to the Act. Private company - A profit company that (a) is not a company or a personal liability, State-owned company; and (b) satisfies the criteria set out in section 8(2)(b) of the Companies Act (2008, as amended). Profit company - A company incorporated for the purpose of financial gain for its shareholders. Public company - A profit company that is not a State-owned company, a private company or a personal liability company. Registration certificate - The certificate, or amended certificate, issued by the Commission as evidence of the incorporation and registration of that company or intellectual property (patents, designs, copyright in film, and trade marks). Registry – A depository of documents required to be kept by the Commission in terms of the Companies Act (2008, as amended). State-owned company - Means an enterprise that is registered in terms of the Companies Act (2008 , as amended) as a company, and either— (a) falls within the meaning of ‘‘State-owned enterprise’’ in terms of the PFMA (1999, as amended) or (b) is owned by a municipality, as contemplated in the Local Government: Municipal Systems Act (Act 32 of 2000), and is otherwise similar to an enterprise referred to in paragraph (a).

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

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