The CIPC embarked on a process to streamline the process of prospectus registration by developing an electronic filing capability to assist clients. This is in line with the dtic’s Medium Term Strategic Plan: To promote structural transformation, towards a dynamic industrial and globally competitive economy and to broaden participation in the economy to strengthen economic development.
Section 99 (1) of the Companies Act 71 of 2008 as amended restricts persons to only offer securities of a registered company to the public. Section 99(2) of the Act prohibits the making of an initial public offer prior to the registration of a prospectus.
From 1 September 2024 clients will be required to file a prospectus using the e-business platform. Kindly continue using the e-mail address: prospectus@cipc.co.za during the pilot phase which will run for a two-week period. During the filing period the published turnaround times and fees as per Companies Act will still apply. Clients are requested to note that in case of a rejection for both final prospectus as well as a supplement to prospectus five business days will be awarded to correct and finalize a filing. If not corrected within five business days, a new filing will have to be lodged at the published fees.