The Companies and Intellectual Property Registration Office (Cipro) is transforming into a commission, it said on Tuesday.
Cipro said it was in the process of merging with the Office of Companies and Intellectual Property Enforcement (OCIPE) to become a commission to be known as the Companies and Intellectual Property Commission.
"This new institution will have greater autonomy in serving the people of South Africa," Cipro CEO Keith W Sendwe said in a statement.
The decision to transform CIPRO into a commission was made five years ago as part of the broad Department of Trade and Industry, (DTI) corporate law reform which involved the development of a new Companies Act.
"In a global environment where the stimulation of economic growth is of critical importance, it was deemed necessary to combine forces with other organisations complementing Cipro's service offering and place registration and enforcement of companies and intellectual property rights under one roof," Sendwe said.
The Bill to bring about the transformation was finally approved by Parliament during November 2008 and has since been signed off by the President.
The new Companies and Intellectual Property Commission would be established after July 2010 and would operate under a new law with significantly expanded functions and powers, he said.
"In particular, all administrative functions will now be depoliticised and placed within the jurisdiction of the commission.
"Previously, all the administrative functions were assigned to the Minister of the DTI."
The ultimate goal of the reform was to ensure that enterprises of all types and sizes promoted the principles of growth, employment, innovation, stability, good governance, confidence and international competitiveness, Sendwe said.
"With core business divisions like registration of companies, cooperatives and intellectual property rights; compliance incorporating public education and awareness; research and analysis; legal advisory services and stakeholder management, it is clear that the Commission will now be better equipped to help entrepreneurs in turning creative ideas into viable business opportunities," he said.