Notice 10 of 2013 Abbreviations relating to Companies and Closed Corpporations:
There seems to be a confusion whether abbreviations relating to Companies and Closed Corporations as far as their descriptions are concerned, are permitted or not and RCR 14/2008 as confirmed by RCR 13/2012 appears to cause further confusion in this regard.
Examiners must also take note of the other acceptable abbreviations relating to companies as referred to in CRC 3/2012 and apply it accordingly.
With respect, the last two bullets of paragraph 4 cannot be correct. Section 21 of the close Corporations Act states the following: 22. Formal requirements as to names and registration numbers.—(1) The abbreviation CC, in capital letters, or its equivalent in any other official language, shall be subjoined to the name used by a corporation. The act says clearly it shall be the abbreviation.
In Cape Town Deeds Registry, unlike some other Registries, the words "Close Corporation" or "Beslote Korporasie" will, correctly, never be accepted. CRD has in fact notified registrars of this position in an e-mail dated 12th February 2013 which I have in my possession.
Oh, dear! The plot thickens. It is not a ''Closed Corporation''! Its a ''Close Corporation''
I agree with Dudley. I have had this debate with one of the examiners at the Deeds Office and they did not accept "Close Corporation" in full - had to be abbreviated.
I recently had a complicated set of transfer papers rejected by the Pietermaritzburg Deeds Office because I had cited the transferor as xxx( PROPRIETARY ) LTD. I placed the word proprietary in brackets (as was in fact indicated on the CM 1 issued to the transferor). This was the only reason the set was rejected. I provided the Registrar with a copy of the CM 1 a copy of S 11 (1) (a) (iv) of the Companies Act ( which allows the use of brackets in the name of a company) but the reply came back that my citation of the transferor was in contravention of CRC 3 of 2012. I thought it best to correct my "error" and to re-lodge (under protest) the set with the offending brackets removed and the transfer sailed through. I have yet to receive an explanation from the Deeds Office. The worst part of this experience was that I had to try and explain to my clients what was going on here!
I noticed with mounting fury that in CRC 3 of 2013 its announced that Sanlam Home Loans Guarantee Company (Proprietary) Limited has changed its name to ABSA Home Loans Guarantee Company (Proprietary) Limited and the instruction that this change of name must be filed under BC No. 1 of 2013 in ALL deeds registries. I think I know why I haven't had a reply from Pietermaritzburg.
Kindly note that the Notice was not issued by the Chief Registrar of Deeds, but by the office of the Registrar of Deeds Pretoria The Notice is wrong as to the description of a Close Corporation. Section 22 of the Act is clear that the name must contain the abbreviation and not the words " Close Corporation "
With reference to the above, what is now the correct description re CC
The Act must be followed. The office of the RoD is in the process of issuing an amended notice.