PRESENTATION BY THE REGISTRAR OF COMPANIES

1. PRESENTATIONBY THE REGISTRAR OF COMPANIES WWW.CIPRO.GOV.ZACALL CENTRE 086 184 3384 Adv Werner Johnson 1 October 2002

2. GENERAL DESCRIPTION OF CHANGES: A few points to be highlighted • The Registrar is in the process of doing away with revenue stamps and by April 2004 no revenue stamps will be accepted. These will initially be replaced by an account, with an internet payment option to follow– this will be phased in from 5 August 2002. • All agents that currently deal with the Registrar will have to be accredited in order to facilitate the billing structure and therefore re-register. • CIPRO has a Contact Centre for all enquiries at telephone no: 0861 843384. This service is backed by a knowledge team who will deal with more complex issues. • The prescribed forms are available on the web and as from 5 August 2002 the colour requirement will fall away. All forms may be lodged in white.

3. Continuation……. • The Registrar will do away with duplicate copies of forms lodge thereby only sending back a certificate of the change (similar to those already being sent with the registered forms). This will be applicable first to Close Corporations. This was implemented on 5 August 2002. • The Registrar is bringing back the annual returns. No date fixed yet, more communication to follow later in year regarding the implementation thereof.

4. DOCEX The Registrar initiated a deal with Docex to receive applications from the public, agents etc and dispatch it to CIPRO. This is for your convenience. Docex lodgment points will be phased in during August 2002. Lodgment will be implemented at the following ten Docex branches in a phased approach starting in the order as set out below: Cape Town Bellville East London Port Elizabeth Durban Pietermaritzburg Bloemfontein Johannesburg Randburg Pretoria Implementation will be preceded by a pilot phase.

5. Continuation……. • These branches will be used to render the following services: • Physical submission and collection of documents • Bar coding of Documents for Tracking purposes for clients and CIPRO • Note 1: Documents submitted at a Docex point will be returned to that point! • Note 2: Professionals will be able to use their Docex points to submit documents. Each application will have to be tracked separately.

6. PRESENT WORKFLOW SYSTEM The follow is an extract of the main steps in processing an application • Tracking of documents • Mail • Hand • Preparation of documents • Scanning • Import to different divisions for verification and approval • Capture information through SACRO ERMS System • Print Authentication letters for approval or rejection • Letter for Client • Letter for CIPRO File • Distribution of Authentication letters • Mail • Hand - Collect - Basket (AGENTS)

7. WORKFLOW SYSTEMAFTER 30 July 2002 • Tracking of documents • Mail • Hand: Collect • Basket (only for agents) • E-mail • Docex • Preparation of documents • Scanning • Import to different divisions for verification and • approval • Capture information through SACRO ERMS • System

8. Continuation……. • Print Authentication letter Letter for client to show: * rejection or approval * history (where appropriate) * Certificate Letter for CIPRO file • Delivery Method of Authentication Letters – AGENTS Mail: * E-mail Hand: * Collect * Docex * Agents Basket * Post

9. DOCUMENTS NOT TO BE STAMPED/FRANKED Registered agents will be billed on a monthly basis for registrations pertaining to following forms: • CK1 Founding Statement • CK3 Re-instatement • CK4 Conversion from Company • CK5 Lodging Court Order for alteration replacement addition to founding statement • CK6 Liquidation of Close Corporation • CK7 Name Reservation of Close Corporation • CM5 Name Reservation of Company Note 1: Agents to reconcile their account at the end of the month and pay CIPRO within 3 working days. Note 2: Certificates will be issued for all the above applications, including CK2 and CK 2A’s.

10. DELIVERY METHOD • REGISTERED AGENTS • Collect • Basket • Mail • Docex • E-mail Note: All certificates will automatically be e-mailed to agents with no other options. • NON AGENTS • Collect • Mail • Docex • E-mail – to be phased in over time

13. ELECTRONIC BILLING Process: • All close corporation documents containing an agent code will be billed (excluding CK2’s). If you use an agent code and stamp the document no refund will be provided!! • Agents to lodge a R10 000.00 guarantee before activation of their account. See R5000 category for smaller agents. • Items are marked for “Billing” or “Stamps” during Document Registration by CIPRO staff. • Completed and approved items will be billed to agents and available on weekly basis to review. • Agents pay on monthly basis. • All services to Agents in arrears will be suspended, recovered from the deposit and handed over to our attorneys.

14. ELECTRONIC LODGMENT OF NAME RESERVATIONS • Agents can complete and lodge CK7 and CM5’s via Internet from 5 August 2002. • Approved items lodged this way, will be billed as discussed above and confirmation received electronically. • Reservations of a name takes about 3 hours!!

15. FORMS AVAILABLE ELECTRONICALLY • All Company and Close Corporation forms are available on the Internet at no charge. • Clients can select the appropriate form and complete it online or download it to their own workstation. • The form is printed out, signed and revenue stamps attached (if not part of billing as discussed above). • Submit these forms as paper applications. • Applications can be submitted in white and the colour requirement no longer applies.

16. STATISTICS New CC registrations for 2002: 81600 on 30 September 2002 Comparison to 2001: 86 396 full year Name reservations since 5 August 2002 NormalE-lodgement % Total • CM5: 7 495 5 148 69% 12 643 • CK7: 22 193 6 225 28% 28 418 Total number of active entities: 1.1m

17. Bank Agents • Register on web as bank agent – no fee. • After completing your contact details, fax confirmation to Veronica van Dyk on letterhead of branch. • Access will be activated. • Register each branch separately. • Monthly statement will go to relevant branch for payment. • View certificate as confirmation at R30 per certificate. • Search on registration number or name or part thereof still free of charge.

18. Bank Agents: Future Attractions • Search by ID number. • Search historic directors and auditors information. • Search financial statements of public companies. • Search on information lodged on annual returns. • SARS to use information as primary source of generic data?

19. Contact Details Agent registrations and account queries: Veronica van Dyk – Vvdyk@cipro.gov.za Fax: (012) 328 3051 WWW.CIPRO.GOV.ZA CIPRO Call Centre: 086 184 3384

20. Thank you for your support. If you have any comments to enhance this service please e-mail the Registrar at:registrarco@cipro.gov.za

21. Questions and Comments