Over six hundred companies are at the verge of being de-registered for failing to submit annual returns to the Patents and Companies Registration Agency-Pacra.
Pacra- has confirmed that it is in the process of deregistering companies which have failed to submit annual returns for the year 2012.
PACRA Senior Inspector of Companies Joseph Moola says over 6 hundred companies will be de-registered in the next three months if they do not submit their annual returns.
Mr. Moola was speaking to ZNBC news in an interview at the on going Zambia International Trade Fair in Ndola.
ZNBC
Pa zed drama never ends:((Â \:d/
Why deregister struggling companies when the big “hule” mmd is let free?
Go ahead and we see how you create more jobs Andeleki chipuba iwe. 600 x 10 jobs each that 6,000 jobs destroyed for recklesness…more jobs, more money less tax..atase/
I  hope this  wont interfere with the employed individuals in those companies because they have families to feed at home, school fees to pay for their children and take care of extended families etc, but regardless companies need to comply with the law
An annual return is a summary of the most relevant information pertaining to a company and close corporation. By lodging annual returns companies and close corporations ensure that the CIPC is in possession of the latest information. It also confirms that the company and close corporation is still in business or will be doing business in the near future.
Zambia  is the only country I know where people are never warned or cautioned. Somebody always has to take the most extreme option available to them. Surely imposing a penalty has more social utility than simply deregistering them.Â
Zambia is the only country I know where laws are only enforced in a worst case scenario… I now understand why some things are so rampant: companies and parties existing illegally, drink-and-drive; littering, unscheduled parties, and the list goes on and on and on…
how can you de-register companies because today it is very difficuit to do business there is to much competition
They should just be fined and given a court order to submit their returns with a certain period. with a warning next time they will be de-registered.
Mixed fortunes and misfortunes. Why not deregister MMD. What public interest? The judge made an error of judgement. Does it mean all these companies are not of public interest unless a political party is of public interest. No consistence. Full of imperfection in these ‘perfect’ minds.Â