The Office of the Registrar of Companies (ORC)
The Director of Business Registration and Licences at the Office of the Registrar of Companies (ORC), Yayra Adzo Banini, has urged businesses to register their companies or risk sanctions and possible closure.
According to her, business registration is the only legitimate way to prove a company’s existence.
“We can boast that if you are born, you will have a birth certificate, and if you are travelling, you will have a passport. So, if you claim that you have a business, the only way you can prove you actually exist is to register. There are many benefits attached to it, so don’t wait until the opportunity comes before you run to our offices,” she said, as quoted by myjoyonline.com.
The Director of Inspection and Compliance at the ORC, Sandrah Koko Quacoe, also emphasised that the Registrar has the power to strike out companies that fail to comply with the law.
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She explained that adhering to the Act and filing regularly prevents “unnecessary” sanctions and penalties.
“Update your records with us, make sure you file, comply with the Act, and that will prevent unnecessary penalties. In the worst case, the Registrar has the mandate to strike out companies if they fail to comply,” she warned.
To improve compliance, the ORC is organising registration exercises in various communities to raise awareness and educate business owners on best practices.
“We are bringing registration clinics to all environments. Anytime you want to do something and engage us, we are gladly ready to come there to serve you on the spot,” Banini added.
SSD/MA
