The latest on CIPRO after failure to implement the much talked about 'New Companies Act' is that the new implementation date is 1 May 2011. It's been announced in the news that finally the new Companies Act bill has been signed by the president and is due to be implemented on 1 May 2011. We are all eagerly watching the space.

CC registrations will cease and the existing ones shall continue to exist as CCs or be allowed to convert to (Pty)Ltd. With the new Companies Act (Pty) Ltds are no longer obliged to have auditors, they can instead use the services of Accounting Officers except where the (Pty) Ltd is dealing with public monies the requirement still stands in this case.