Registrar General begins final rounds of processes to pay customers of defunct Fund Management Companies 

The Registrar General will from today begin the final phase of processes that will support payment to investors of liquidated Fund Management Companies. 

Subject to the clearing of all the processes, the funds will be expected to hit the accounts of investors from next week Wednesday. 

According to reports, various account details have been created and the process of payment structures should be sent out to all investors that have had their claims validated from today. 

However, the payment is expected to cover all the fund management firms that the Registrar General got court approval to liquidate.

Registrar General Jemima Oware said it will not be mandatory for the investors to accept the current terms of payment.

But for those who will not accept the current arrangements by the government, they will have to wait until next year for the individual company assets to be liquidated for them to be paid. 

"...it is not mandatory, it is at their own...we will give them whatever government has for them, if they are interested they can pick it up if they are not they will have to wait for the assets of the individual companies to be liquidated and pay them dividends..."

Meanwhile, the Registrar-General, Jemima Oware, has also announced new changes to the processes and procedures of registering companies in Ghana to promote the Government’s efforts at improving the ease of doing business in Ghana.

READ ALSO : Customers of defunct Fund Management Companies will be paid in cash, bond - Registrar General

She stated that the E- Registrar software application has finally been upgraded in accordance with the new Companies Act, 2019, (Act 992).

Commencing from the 28th of September 2020, members of the business community who wish to register new companies would have to visit the Department’s website www.rgd.gov.gh and download the new prescribed Forms and complete them appropriately for the six types of Company registration.

“There would be no need to fill a Form 4 and the Regulations for the incorporation of a company.. The new Prescribed Forms uploaded on the website encompasses every detail that would have been filled in the previous Forms for the six types of Companies, ” the Registrar-General hinted.

According to her, another change that has been introduced with the implementation of the Act 992, is that persons who are registering any of the six (6) types of companies (Private Companies Limited by shares, Private Companies unlimited by shares, a Public Company Limited by shares, a Public Company unlimited by shares, a Private Company limited by Guarantee and a Public Company Limited by Guarantee would have had to fill Regulations for all these types of companies.

“Now we have made it easier, we have Constitutions to replace Regulations for all Companies. One can just adopt Schedules 2, 3 or 4 of Act 992 which represents the Constitution for a Private Company Limited by Shares, a Public Company Limited by Shares and a Private Company Limited by Guarantee respectively. All of these Schedules are available on the website as your Constitutions to be adopted together with the different Prescribed Forms for the different types of Companies. ” Jemima Oware stated.