Did you know that you can change your company if you no longer desire to use it for any reason. A company or private business corporation that wishes to change its name should first obtain the written approval from the Registrar. This is in terms of section 26 of the Companies and Other Business Entities Act Chapter [24:31]. The process is a bit lengthy but with the right professionals handling it for you its very easy. the following are the steps for changing the company name in terms of the Act.
Stages in change of company name
- Get written approval from the registrar for the change of name
- The company shall publish in the Gazette and in a daily newspaper circulating in the district in which the registered office of the company is situated an advertisement stating the change of name, and shall then apply for a certificate of change of name.
- The Registrar’s office shall enter the new name in the register in place of the former name.
- Upon the application in writing of a registered business entity that has changed its name in terms of Section 26 of the Act and on production of the certificate of change of name, a Registrar of Deeds or mining commissioner, or other officer responsible for the registration of deeds or mining titles, shall make such alterations in his or her registers and on any title deeds and other documents evidencing title as may be necessary as a result of the changed name.
The change of company name does not affect any right or obligation of the registered business entity, or render defective any legal proceedings by or against the entity, and any legal proceedings that might have been continued or commenced by or against it under its former name may be continued or commenced under its new name. You therefore do not lose any rights or property, neither can you evade your creditors by changing the name of the company.