Results 1 to 5 of 5

Thread: Newbie CC Help?

  1. #1
    New Member
    Join Date
    Apr 2010
    Location
    Jhb
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Question Newbie CC Help?

    Hi...
    Being new to the business world, I started a new CC recently with someone I met at a business networking event. I hardly knew him well. We started the CC as 50-50 members. He has been scarce and I wish to remove myself as a member from the CC (or dissolve the CC). I believe I need his permission to do any of this, but I may not be able to even contact him! What can I do to get out of this? Also- I am suspicious of what he may be doing in the name of this CC of which I am currently a member right now- can he get me into debt or make me liable for something I did not sign off on? (I am not sure but I would hope that personally I am not liable for what he does in the name of this CC, and I would hope that as a 50-50 member that I would need to sign off on anything he would want to do in the name of this CC).
    Basic questions I know, but I do not have a business education background.
    Thanks

  2. #2
    Suspended
    Join Date
    Apr 2010
    Location
    Johannesburg
    Posts
    18
    Thanks
    0
    Thanked 1 Time in 1 Post
    Is your business associate the authorised representative of the CC, in other words can the associate enter into any agreement on behalf of the CC? Who is the accounting officer fo the CC? Get in touch with the accounting officer ASAP and start the procedures to resign as a member.

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,980
    Thanks
    3,055
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12
    Quote Originally Posted by mountainboy View Post
    I believe I need his permission to do any of this
    Just as he needs your permission too!

    Depending on what you signed along the way, this sounds more messy than particularly threatening to your financial health. But by the sounds of things, it might be an idea to end the relationship.

    If you have a problem contacting him, just send a notice by registered mail to his address as per the CK1.
    The trouble with opportunity is it normally comes dressed up as work.

  4. #4
    New Member
    Join Date
    Apr 2010
    Location
    Jhb
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    ok thanks i sorted it out! via the accountant. i resigned from the cc. was easier than i thought.

  5. #5
    Silver Member
    Join Date
    Aug 2007
    Location
    Jhb
    Posts
    203
    Thanks
    6
    Thanked 38 Times in 28 Posts
    Just make sure you are resigned in Cipro's records .. give them a few weeks to update the records ... request a CK2 from the accountant showing your resignation ... and then confirm it with Cipro ... you can never be too sure.

    Also, if there is a bank account in the CC's name, you will want to let them know of your resignation, as well as SARS, and make sure you are removed from any surety you may have signed.
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

    Visit my Android ZA website - a website dedicated to Google Android in South Africa - www.androidza.co.za

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •