The new Companies Act required all existing companies and overseas companies doing business in the Cook Islands to re-register in the online system within the first year that the law was commenced. The date to re-register has passed and all companies that failed to re-register were struck off the active register. In response to this, the Cook Islands Parliament recently passed an amendment to the Act that extends the time a company can re-register to March 31, 2022. All companies that were previously struck off for failing to re-register have had their status changed to “not yet re-registered.” They may now access their company on the registry and proceed to complete their re-registration.

There are severe consequences to being struck off, including that when a company is removed from the register then all of its property vests in the Crown. MOJ encourages all companies to re-register during this additional grace period.

In order to file in the registry, you must first create a client account through the online form that is sent to the Registrar. Once approved, the account holder must then obtain filing authority over the company (or companies) for which they are authorised to submit filings. Filing authority is detailed here.

The new law makes other minor changes to the way in which companies are regulated. Please click here to see the amendment. Changes also include new requirements around auditors (including the creation of an auditor’s register) and how property of a struck-off company is to be handled.