We continue to share latest updates we receive to enable us to allow transparent collaboration with you to ensure sustainability and success of your business during this challenging time.
This week we share The Misc Provision (2020) Novel Coronavirus Act No 4 of 2020 was passed on Friday 20th March and provides an amnesty from penalties for the non-filing of company documents, such as annual returns and others during the period March 27 – July 31, 2020.
See below an extract from the Act, in which we have inserted the recent amendments.
516A. (1)Notwithstanding any written law to the contrary, there shall be a waiver of all penalties due and payable under sections 156(5) and 516 on the failure to deliver or to file with the Registrar any document required to be delivered or filed under this Act, where the documents are delivered to or filed with the Registrar “prior to or during the period 27th March, 2020 to 31st July, 2020 or such longer period as the Minister may, by Order, specify”.
(2) The waiver granted under subsection (1) shall not affect the obligation of a person or company, including an external company, to file or deliver any document to the Registrar or to pay fees in respect of any document that is filed or delivered in accordance with sections 156 and 516.
(3) Where a person or company, including an external company fails to file or deliver to the Registrar “before the expiration of the period specified in subsection (1)” any document or fails to pay fees in respect of any document that is required to be filed or delivered under this Act, the penalties that would have been payable in respect of such failure shall be revived and become payable as if the waiver in subsection (1) had not been granted.
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