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QPG - CIPC announcement
QPG represented by Mr Peter Martin Shaff, was convicted of contraventions under Section 214 (3), read with the provisions of Section 171 (7) and Section 216 (b) of the Companies Act No. 71 of 2008 (as amended) (“Act”) in the Specialised Commercial Crime Court in Bellville, Cape Town on 21 July 2016. In terms of Section 276(1) (f) of Criminal Procedure Act No. 51 of 1977 (as amended), the company is sentenced to pay a fine of R40 000-00 of which R15 000-00 is wholly suspended for 5 years in terms of Section 297(1) (b) of Act 51 of 1977.
On 20 January 2014, the Companies and Intellectual Property Commission (“CIPC”), issued a compliance notice to Mr Gary Shaff, a director of QPG. In terms of the Act, the CIPC may issue Compliance Notices to any person whom the CIPC, on reasonable grounds, believes has contravened the Act. Non compliance with this notice may result in an administrative fine or referral to the National Prosecuting Authority for prosecution as an offence.
CIPC received a complaint by a shareholder of QPG alleging that the company had not called an annual general meeting for its shareholders nor produced annual financial statements for the 2012 financial year, thus contravening Sections 30 and 61 of the Act. The CIPC appointed Inspectors to investigate the complaint and a Compliance Notice was issued to Mr Gary Shaff and QPG as a result of the investigation. The Compliance Notice required Mr Shaff to respond within 40 business days from the date of the Notice.
Mr Shaff and QPG failed to comply with the issued Compliance Notice. In terms of Section 171(7) (b) of the Act, the CIPC referred the matter to the National Prosecuting Authority for prosecution as an offence in terms of Section 214(3) of the Act.
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