Brela lists over seventy thousand companies and local branches risking de-registration for not filing companies act returns

The Registrar of Companies at the Business Registrations and Licensing Agency of Tanzania (BRELA) has issued a public notice to all companies (including branches) directing them to file all outstanding filings, including annual returns and annual audited accounts, by 7 May 2017.

The Registrar is currently conducting an audit, and has already listed 76,316 companies with outstanding annual returns accompanied by audited accounts and, in most cases, listed the specific years for which each company is required to file these. The current list is available on the BRELA website. Readers should refer to company numbers rather than the names of the companies, as the list captures original names from incorporation rather than later changes to company names.  BRELA has stated that the list is not complete and is being updated as its audit continues.  The list only appears to comprehensively cover companies incorporated by March 2011.

BRELA has indicated that failure to comply with the notice within the specified period will result in a company being struck off the Register of Companies (de-registered and dissolved) and that legal proceedings will be instituted against the directors, other officers and shareholders of the company.

For many companies, their inclusion in BRELA’s list may come as a surprise, as they may have actually filed their annual returns at BRELA and have receipts for the same. However, unknown to the company, BRELA may not be recognising the annual returns due to ‘anomalies’ that it finds in these annual returns, failures to file accompanying audited accounts or omissions or anomalies in other related statutory filings.

Should you have any queries or need any clarifications with respect to the above, please do not hesitate to contact Shamiza Ratanasi or Sonal Sejpal.

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The content of this alert is intended to be of general use only and should not be relied upon without seeking specific legal advice on any matter.