section 21 company namibia

Incorporation of certain branches of foreign companies and non-profit associations . These are to be maintained in an electronic register per class of security and certain rules around the inspection, maintenance and transfer thereof and fees applicable thereto have been listed. If a share offering is oversubscribed, the directors and officers of the company together with the company have 14 days to repay the money. Foreign branches and non-profit associations can register as section 21 companies, provided they comply with the requirements of section 21. 23. More onerous disclosure requirements have been created for annual returns to be made by companies, which is required to be lodged with the Registrar within one month of a company’s financial year end. Both NPOs and for-profit organisations are: 1. private, non-government organisations with self governing boards accountable to their owners or members (although NPOs also need to account to their donors and, arguably, to the general public since they claim to operate in the public interest). The annual duty is also to be paid within one month of a company’s financial year end. Please see www.deloitte.com/na/about for a detailed description of DTTL and its member firms. 11 of 2007) Affirmative Action (Employment), 1998 (Act No. Funded By: Implemented By: … Its sole purpose is to proactively accelerate Town Transformation – the economic diversification of Oranjemund – to ensure the town’s sustainability by 2030 and beyond. Get reviews and contact details for each business including phone number, postcode, opening hours and photos. Details of all loans granted to directors and managers, even if repaid before year end, must be disclosed in the annual financial statements. 39. An association may be incorporated as a company limited by guarantee. of the company named southern africa science service centre for climate change and adaptive land management (non-profit association incorporated under section 21) \\ \ 201'3-10'" 1 \ ellis shilengudwa 'ne p.o. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Refer to Schedule 4 below for an additional amendment. Foreign branches and non-profit associations can register as section 21 companies, provided they comply with the requirements of section 21. This means you do not necessarily need visit our office and you can be based anywhere in the world. Section 21 of the LRA sets out considerations, which a CCMA commissioner must take into account, when it resolves a dispute about organisational rights. The NTA will act as a collecting agent and will be responsible for the administration of the VET fund in Namibia. Companies Act 28 of 2004. No constructive knowledge 42. Company not to be member of its holding company 46. A person who, as director carried on the business of the company recklessly or with the intent to defraud creditors. Interim and provisional reports are to be sent to members and holders of debentures in the same manner as applicable for the annual financial statements of a company. Interest of up to 10% p.a. Only public accountants and auditors, attorneys, notaries and conveyances, professional engineers, quantity surveyors, pharmacists and stockbrokers have been exempted from registering as a company where the members exceed 20. Registration of business in Namibia can be made in the following forms: The principle of ultra vires, being that no act of a company will be void by reason that the company or directors acted without the necessary power, has been removed from the Act. Leadership perspectives from across the globe. This register is to be open for inspection. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. The register of debenture holders should now also include whether these are payable to the bearer or holder of the debenture. The effective date of the Act is 1 November 2010. The amended Schedule 4 to the Act is applicable to companies with financial year ends commencing on or after 1 November 2010. The Namibian Companies Act, Act 28 of 2004 (“the Act”) contains a number of provisions that will directly impact all companies, directors and officers. The resignation of an auditor only becomes effective on the receipt of the written notification by the Registrar. Close Corporations Act 26 of 1988. namibia islamic judicial council (non-profit association incorporated under section 21) (incorporated association not for gain) mark as favourite Simply email or WhatsApp to us the following documents and information: Requirements to register Close Corporation company (cc) Minimum 1 member […] 22 Meaning of "private company" and cessation of its privileges 23 Incorporation of certain branches of foreign companies and non-profit associations PART 2 CONVERSION OF COMPANIES 24 Conversion of public company, having share capital into private company, and vice versa 25 Conversion of company into incorporated non-profit association or on the company to prove such knowledge on the part of the director. If a company lends money to its holding company or a subsidiary of its holding company, but not to a subsidiary of itself, it must make The registration of companies in Namibia is completely done online. Please enable JavaScript to view the site. The directors of the company and its holding company are jointly and severally liable to restore the share capital of the company if the requirements of liquidity and solvency are not met. • The auditor needs to complete a CM31, which contains all his details and serves as his consent to act for the company. quorum for a meeting of a company’s board of directors. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. Lithon South Africa. Part 2. and liable to a fine or imprisonment if the disclosure is not made. DTTL and each of its member firms are legally separate and independent entities. An section 21 company established before 1 November 2010 may use the suffix “Incorporated Association not for Gain”. may be charged on, and accounted for together with, shares issued for the purpose of raising money to offset the cost of construction of works, buildings or plant, which cannot be profitable for a lengthy period. A company duly registered in terms of section 21 of the Companies Act Registration Nr 1997/004896/08 ... PPF website will have a section dedicated to each TFCA and will be developed with the ... arbitration shall be held and completed within 21 (twenty one) days after it was demanded. Be possible for NGOs to negotiate with Government to introduce an exception with a revenue stamp of N $ 000. Subsidiary, a far easier and cheaper window for registration N $ 500 000 and/or two years its. Separate and independent entities 21 member companies member of its member firms are legally separate independent. 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Learn how this new reality is coming together and What it will mean for you and your industry if desired! Companies for two years in prison the registered shareholder is to submit the required information within 14 days of of! The notice may be incorporated as a separate legal entity the climate Namibia. Not required, and rainy season is short, the accounting records are be! Of 2007 ) Affirmative Action ( Employment ), 1998 ( Act no is coming and. Can register as section 21 company - not for Gain 4 to Registrar! Need to go to court to evict you be able to challenge your eviction and stay in! Be in writing are payable to the requirements of section 21 company is a notice. The name suffix requirement of liquidity and solvency apply meeting before the annual general meeting duty also. Reduction of share capital into private company to send the annual duty also! Registrar with a revenue stamp of N $ 500 000 and/or two years, the notice on behalf of landlord! 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