IPA’s online data migration process completed

THE Investment Promotion Authority (IPA) says its data migration process has been completed successfully.
IPA managing director Clarence Hoot said this now meant that entity records from the old registry were outdated and clients, who need to access historical information would have to search the new registry for the updated information.
Hoot said the information presented would reflect what was there before the new system went live on Dec 1.
“For instance, if they search for a registered company, they will be presented with information on who were the last directors, shareholders, or the last registered office,” he said.
Acting registrar of companies Harriet Kokiva also advised key users of IPA’s online registration, especially those that use the registry for their business services such as banks and regulatory agencies, to be flexible and accept a Certificate of Good Standing (COGS) as evidence of an existing entity when clients go to them to use their services.
“We urge banks and financial institutions to clear any misunderstandings on extracts and COGS,” she said.
“As long as COGS are generated by the IPA’s new registry system, they confirm the information maintained by the registrar of companies.
“A fee of K20 is payable for a COGS in short form (shows current information only) or K50 for COGS in long form (shows both current and historical information).
“The registrar can certify COGS at a fee of K100 per COG.
“This fee is in addition to the COGs fees. The onus is now on business entities to make sure they have reregistered or filed their transitional update so that COGS are generated.”