The Investment Promotion Authority is calling on business houses, corporate organisations, small and medium enterprises and the general public, to look out for new changes in the display and content of its newly launched online registry service as it undergoes transition.
In addressing participants at the PNG Mining and Petroleum Conference in Sydney Australia, Managing Director of the IPA Mr. Clarence Hoot alerted companies of the need to re-register their companies to avoid them being struck off the new upgraded online registry system.
Mr. Hoot said. “Re-registration is free and a window of one year period from 1 December 2022, will be given for clients to update all their company records for free. Companies who fail to re-register within this period will have their companies struck off the IPA business/company registry”.
The IPA’s new and upgraded online registry service went live on the 1st of December 2022 with additional features for users to manage their company records and also register entities.
The IPA is informing its clients that there will be some teething-in issues from the Go-Live date and cautioned its clients that not all data would be available at this stage. The Authority will continue to provide updates on what is happening and what is expected from them as part of embracing the new changes.
Since the new system went live, the IPA has ceased accepting hard copies of forms lodged to renew or update business records. It is only accepting paper forms for the registration of new entities.
Existing entities will be able to update their data online once the data migration process has been completed. During this period the IPA will waive any late filing fees for companies whose annual returns are due during this period.
Clients who have an existing online account should expect an email from the system prompting them to create new passwords for their accounts. Those with prepaid accounts are not able to access their accounts at this stage as the account balances are being migrated at the moment.
The IPA continues to embrace ICT to modernize its systems and processes to to be on par with the current global trends in doing business.