The Office of the Registrar of Companies (ORC) has announced that it will strike out over 8,000 defaulting companies from the companies register by the end of May 2024.

This decision comes after a two-year sensitisation campaign and multiple notifications to companies that have failed to file annual returns as required by the Companies Act 2019 (Act 992).

According to a statement by the ORC, a total of 8,531 limited liability companies are currently in default as of December 2023.

The Registrar said this move has become necessary to purge the Register of dormant companies and companies in default.

"We have made many efforts to encourage stakeholders to file their returns but some companies have still not complied. This action must be taken to uphold the integrity of the companies register," the statement added.

The statement highlighted that defaulting companies can still avoid being struck off by filing their annual returns and financial statements by the end of May 2024.

It also noted that beginning 1st May 2024, the Registrar would start implementing a one-time GHC 1,000 administrative penalty fee against companies in default.

"I urge all company officials to take this matter seriously. A company that is struck off cannot legally conduct business for 12 years except by a court order to reinstate it," the statement cautioned.

The Registrar advised the public to avoid making any mobile money transfers to unauthorised persons claiming to represent the Registrar's office.