The Corporate Affairs Commission (CAC) is the agency of Government charged with the responsibility of registration of Companies, Business names, NGOs etc. The administration of the Companies Law is one of its major functions. The CAC should therefore be notified when you make changes to your business such as Addition or removal of Directors, Conversion, Change in Share Capital, Change of address to mention a few.
Compulsory Annual Returns, Mortgages, Debentures, Charges and Winding up are more examples of occurrences/transactions which must be registered, and refusal or failure to comply usually attracts penalties ranging from fines to imprisonment, and in some cases the Company could be struck out of the register of Companies. The CAC is also empowered to investigate Companies.
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