[Question] Resigning as a member when another member refuses to sign

[Capone1212]

Hi All,

I am a member of a cc with 3 members. I have resigned last year ,however one of the members is refusing to sign the document that needs submitting to CIPC to get me off the cc.

To cut a long story short, the member is sour over another business I was part of with him, we went through Arbitration and I won.

In the cc I want to resign from, the company owes me money, and not the other way around. It's not trading company, as in, needs closing down.

I have my usual business I run and because I'm a member of another cc my accountant has advised me my tax % should be higher as I'm a member of more than one cc.

So basically I really need to get my name off this other cc. How can I do it if the one member wont sign the document that CIPC needs?

Thanks for your assistance and advice in advance.

Alex

[Andromeda]

What is to happen with the amount owed to you?

Your accountant is referring to fact that your other cc is not able to be classed as an SBC, and thereby enjoy reduced tax rates, because it is a requirement that you may not hold shares in any other entity, other than a listed company.

Short of applying for a court order compelling the fellow to sign the CK2, there is no other method that I am aware of.

[kayla]

I had a similar situation 6 years back when I wanted to resign from the CC that I was a member of. It took me a full year trying to get the person to agree to submit the forms to CIPRO to indicate my resignation. I ended up requesting a lawyer to send the other member a letter indicating my intention to take the matter to court if he fails to attend to the request within a stipulated period. The threat of going to court worked for me. I also understand on the tax implications because I ran into tax related matters in that year for undeclared income that I was not even aware of.

[Justloadit]

I am not sure what your percentage as member in this company is, but you can call for the company to be liquidated, because it can not pay you your amount due. This threat will make the other member decide very quickly what he wishes to do.