Companies Act, 2008 (Act No. 71 of 2008)

Accredited professional bodies shall inform the CIPC of non-compliance with the policy and this information will be taken into account when the licenses are renewed. Where a BRP has not met the requirements of the policy but is in the process of a business rescue the CIPC will not renew the BRP license once the business rescue is completed, unless the BRP can show that remedial action has been taken.

Individuals who do not comply with the requirements of this policy shall be referred to the relevant accredited professional body for disciplinary action.

NOTE: accredited professional bodies will institute disciplinary action but not necessarily suspension of membership. CIPC will have to deal with this in terms of renewal of license.