If you’ve registered your business with the Corporate Affairs Commission (CAC), you’ve probably had situations where you needed to effect changes on your registration documents such as correcting a name that was misspelled, replacing the address of the business with a new address, provide correct signatures, etc.
If you are one of those desiring to make changes or an update to your CAC documents, the good news is that it is possible regardless of whether your business is registered as a business name, company, or under the class of an incorporated trustee.
In this article, we will consider the requirements for effecting an update on your CAC documents as well as provide a list of other changes you can make after registration.
CAN I UPDATE THE INFORMATION ON MY CAC DOCUMENTS?
Yes, you can. Updates or changes after registration can only be done as a post-incorporation service.
REQUIREMENTS FOR MAKING CHANGES ON MY CAC DOCUMENTS
Generally speaking, there are certain conditions that must be satisfied to enable anyone to effect an update on their CAC documents. They are;
1. Annual returns of the business name or entity must be filed for all the years they owe when due. This is mandatory regardless of whether or not such business has carried out any profit-making activity or not.
2. Secure the services of an accredited agent with the Commission. At the time of publishing this article, only accredited agents are permitted to carry our post-incorporation filings such as updates to your CAC documents. Accredited agents are registered with the CAC and have their registered numbers. Only lawyers, accountants, and chartered secretaries are qualified to be accredited with the Corporate Affairs Commission
3. Provide details of updates that need to be made. There are several updates or changes that can be made after registration. We’ll discuss the details below
4. Pay required statutory fees
Please note that the requirements provided above apply to various kinds of updates you may wish to make to your registration documents. However, depending on the specific change or update you wish to make, there are special requirements for the same. It is therefore recommended that you speak with your lawyer or agent who is helping you with making such changes to be certain about the requirements.
OTHER CHANGES YOU CAN MAKE ON YOUR CAC DOCUMENTS AFTER REGISTRATION
We will list the kinds of activities you can carry out on your business after registration. We will also list these activities under the various types of entities that can be registered with the CAC
CAC UPDATES YOU CAN MAKE FOR A BUSINESS NAME
1. File annual returns (Read about annual returns here)
2. Apply for cessation of business
3. Change the nature of business activities
4. Change the name of the business
5. Change proprietors of the business
6. Change the principal place of address or branch of the business name
7. Update proprietor’s information such as; name, email, phone number, address, etc
8. Apply for Certified True Copy (ies) of your missing CAC documents
9. Apply for the Status report (formerly known as CAC Form 1) of the business name
10. Request for a letter of good standing (to show the credibility of the company)
CAC UPDATES YOU CAN MAKE FOR A COMPANY
1. Alter the nature of the business activities of the company
2. File annual returns
3. Apply for certified true copies of incorporation documents
4. Change company secretary
5. Change directors of the company (includes removing and adding new directors)
6. Change the name of the company
7. Change the registered address of the company
8. Convert or Re-register the company
9. Change person with significant control
10. Change details of persons with significant control
11. Increase the issued share capital of the company
12. Change details of directors (such as name, email, phone number, address, signature, etc.)
13. Change in details of shareholders (such as name, email, phone number, address, signature, etc.)
14. Request for letter of good standing
CAC UPDATES YOU CAN MAKE FOR A NON-PROFIT/INCORPORATED TRUSTEE
1. File annual returns
2. Amend constitution
3. Change the name of the Incorporated Trustees
4. Change the registered address of the Incorporate Trustees
5. Change Trustees (including adding and removing Trustees)
6. Apply for Certified True Copies of registration documents (where original copies are missing)
7. Change of Secretary
8. Apply to dissolve the Incorporated Trustee
9. Edit information of the Incorporated Trustee
Above is a list of some of the applications you can make if you wish to effect a change on your CAC documents.
The procedure for effecting changes or updates on your CAC documents for either business name, company, or incorporated trustee is governed by the Companies and Allied Matters Act and is therefore technical. You therefore require the services of a professional who understands the legal requirements for effecting whatever changes or updates you wish to make.
Need help with making an update on your CAC documents, Click the Whatsapp icon on the lower right part of this page or reach out to us HERE and we’ll be delighted to speak with you.