Other functions

The Entiteiten app also has functionality for the less often required events including:

• Cloning an existing company
• Striking off a company
• Merging or dissolving a company

Clone a company

Use the Clone Company Wizard to save time when entering companies with very similar information. To do this, open the company record to be cloned and proceed as follows:

1. Select Company Details > Wizards > Administration > Clone Company Wizard.

   The Clone Company Wizard opens.

2. On the Clone Details screen, enter the details of the new company and select Next.

3. On the Clone Options screen, select the data to be cloned and select Next.

4. On the Security screen, specify any security settings as required and select Next.

5. On the Action screen, select the appropriate action and select Finish.

   The cloned company displays automatically after completion.

Strike off a company

To strike off a company:

1. Go to Company Details and select Wizards > Other Changes > Change Company Status.

   The Change Company Status Wizard opens.

2. On the New Status screen, select Strike Off Requested as company status and enter the effective date. Select Next.

3. On the Board Meeting screen, enter the date of the board meeting if applicable and select Next.

4. On the Action screen, select the appropriate action and select Finish.

5. On the Documents screen, select the documents that are required and select Next.

6. Select Finish.

   Once this event has been performed, the Dissolution/Sale Wizard should be used to cancel shares and appointments and change the company status to struck off.

Merger and Dissolution Wizard

Watch this short video on how to merge a company you no longer need or continue reading.

Open the company to be merged or the company to be dissolved and proceed as follows:

1. Go to Company Details and select Wizards > Other Changes > Dissolution/Sale Wizard or Merger Wizard.

   If the company you want to merge or dissolve or sell owns another company, the Declaration screen displays.

2. On the Declaration screen, select the Confirm to continue Wizard option. Select Next.

   Note

   Selecting this option means that the share relationship will cease and the relationship will no longer be displayed on the group structure chart.

3. On the Event Date screen, enter the event date and select Next.

4. On the Options screen, select the options you want applied and select Next.

   You can choose from the following:

   • Change status of non-surviving company: Select the new status from the drop-down that displays after selecting this option.

   • Cancel appointments: All appointments are cancelled as at the event date with a suitable note created. Appointment history remains intact.

   • Cancel shares and share class records: All shares and share classes in the company are cancelled as at the event date with a suitable note created. Corporate relationships, where the non-surviving company is the subsidiary in the relationship, are treated as concluded as at the event date. Share, share class and corporate relationship history remains intact.

   • Move shares and corporate relationships held by non-surviving company to surviving company: All shares held by the non-surviving company are transferred to the surviving company, with suitable notes created. Corporate relationships, where the non-surviving company is the holding entity in the relationship, are treated as concluded as at the event date, and new relationships are created substituting the non-surviving company with the surviving company.

   • Copy Data Library records to surviving company: If selected, a separate page is generated which lists all the types of current data library records for the non-surviving company and enables the user to select the types to be copied.

   • Create Data Library record linking non-surviving company to surviving company: This option creates a data library record linking the two entities together.

   • Change non-surviving company name: The company status and event date are appended to the name of the non-surviving company.

   • Mark non-surviving company as Historical Record: Select to mark the non-surviving or dissolved company as historical.

   • Refresh Data Library records following changes: Once all the other transactions have been completed, the data library records are refreshed in order to pick up any automatic changes.

   Note

   The screens that follow depend on the options you selected.

5. On the Action screen, select an action then select Next.

6. Select Finish to complete the wizard.

Other company documents

The Entiteiten app also provides the option to create:

• Board Meeting Minutes
• Other Documents

Board meeting minutes

The board meeting event produces a blank minute template that can be completed as necessary. This is located under Company Details > Wizards > Documents > Board Meeting.

Other document

The Other Document option contains documents specific to the jurisdiction as well as any custom documentation the user has uploaded for use in the system. This is located under Company Details > Wizards > Documents > Other Document.