Last Updated on: 15th August 2023, 01:21 pm
Kampala I Uganda Registration Services Bureau (URSB) has deregistered over 186,000 businesses in what it described as “non-compliance with the annual filing requirements” for five consecutive years under the Companies Act of 2012 (Act 1).
“Pursuant to Section 134(b) of the Companies Act 1 of 2012, on 20th of March 2023, URSB published a notice requiring all companies to file their annual returns. Companies that fail to file annual returns for five (5) consecutive years were required to file a statement of solvency and show cause why they should not be struck off the register.
“In accordance with Section 134(6) of the Companies Act 1 of 2012, notice is hereby given that 186,000 companies have been struck off the register,” said URSB in a statement dated August 14, 2023.
To see companies that have been discontinued, click here.