The Uganda Registration Services Bureau (URSB) has issued a final notice to companies that have failed to file their annual returns for over five years, warning them of imminent deregistration.
According to a statement released by URSB on August 12, 2024, companies that have not filed their annual returns for a period of five years will be struck off the register, effective August 30, 2024.
This move is aimed at enforcing regulatory compliance and maintaining the integrity of the corporate registry. URSB has already published a list of companies that have been struck off the register on their website.
Companies that wish to be restored to the register must apply to the Registrar of Companies by August 30, 2024, through the Online Business Registration System (OBRS).
Failure to comply will result in deregistration, which has severe legal implications, including loss of corporate status, inability to conduct business, and potential liabilities for directors and shareholders.
URSB has emphasized the importance of timely submission of annual returns, as mandated by the law, and has urged companies to take immediate action to avoid deregistration.
This move is part of URSB’s efforts to promote transparency, accountability, and good corporate governance in the business sector. By maintaining a credible register, URSB aims to distinguish active companies from inactive ones, allowing other interested persons to use names of inactive and deregistered companies.
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