On 24 May 2024, the Minister for Investment, Industry and Trade (the Minister) issued a Government Notice regarding Waiver of Late Filing Fee of Companies Documents at BRELA (the Notice) (Government Notice No. 410).
Section 452A of the Companies Act (the Act) empowers the Minister in consultation with the Minister for Finance, to waive fees associated with the late filling of documents payable under the Act to enable the smooth operation of the Online Registration System (ORS).
According to the Notice, the conditions attached to the waiver are as follows-;
- The waiver will be in force for twelve months from the date of publication of the Notice (24 May 2024)
- The waiver will be 50% of the filling fee subject to other conditions provided in the Notice as follows:
- The company subject to the waiver must have been incorporated before 2018 and have not updated their information on the ORS system;
- The notice will apply to companies who have commenced the update of their companies in the ORS system before this notice was issued;
- Update of information to the ORS system will be done during the period of this notice;
- All payments must be done within the duration of this notice.