Filing annual returns for a company with the company registrar is mandatory as encapsulated in Section 132 of the Companies Act 2012. It provides that every company which has a share capital must file annual returns with the registrar.
Annual returns show the changes that have occurred within the company during the year such as change of shareholding, directorship and the registered office of the company.
Every accountable person is required by Regulation 45(1) of the Anti-Money Laundering Regulations, 2015 to submit to the Financial Intelligence Authority(FIA) a compliance report setting out the level of compliance with the Act and Regulations and the Internal Anti-Money Laundering and Combating Terrorist Financing Policy of the accountable person at the end of each calendar year. The FIA developed a compliance report template to streamline and standardise the reports submitted by Accountable persons.
The recent 2016 NGO Act provides a new legal and regulatory framework that introduces dynamic changes in the registration, licensing, regulation and governance of Non-Governmental Organisations (NGOs) in Uganda. The new law creates a mandatory requirement on all NGOs to comply with these rules and regulations governing their operations within the country.
The Ugandan Government has announced a number of measures in an attempt to contain the spread of the novel coronavirus (COVID-19). Measures aimed at social distancing are creating a host of issues and implications for the corporate governance of companies and organisations. As associations enter into the Annual General Meeting (AGM) season, many are considering changing the format of their AGM from an in-person meeting to a virtual-only or hybrid meeting.