On May 4 2015, the companies office is waiving costs and penalties owed by businesses who have not filed their annual returns and renewed their business name. This will last for a period of three (3) months.
The amnesty will allow:
- companies limited by shares to file each outstanding annual return at a cost of $3,000 or 60% of the regular cost.
- companies limited by guarantee to file annual returns at a cost of $1,000 or 50% of regular cost.
The associated penalties ($100 per day) will be waived.
The amnesty will also allow company to request removal without having to file all outstanding documents or to provide an audit certificate. The removal request process will be done by submitting a letter signed by a majority of the directors and submit a statutory declaration that the company has no assets or liabilities. This process will cost $10,000.
In regards to renewals/removals of business names, the companies office will offer an amnesty which will allow business persons to have their names removed for a flat fee of $2,000 and no late or renewal fees will be charged.