The Business Registration Service (BRS) has announced its plans to roll out a new, automated service designed to streamline and secure the process of changing company officials.
This initiative, which will see a redesign of the old system, will rely on modern tech to make these filings fast, simple, and, most importantly, more secure from fraud.
The new system will deploy multi-layered verification, specifically through one-time passwords (OTPs). This automation will govern the entire end-to-end process for confirming new director appointments, managing director resignations, and facilitating the transfer of shares.
Basically, when a company wants to appoint a new director or transfer shares, the people involved will get a unique code on their phone or email. They have to enter it to confirm the change. The government states that this simple step will make it difficult to steal one’s identity to fraudulently sell their shares or appoint one as a director without their knowledge.
Also, this innovation aligns seamlessly with contemporary data protection principles. Under the new process, a director being appointed must provide prior confirmation. This proactive measure is a direct application of the Data Protection Act of 2019, ensuring that an individual’s personal information cannot be used to place them into a company role without their explicit knowledge and consent.
This empowers individuals with control over their personal data, turning corporate filings into a participatory and consent-based process rather than a passive administrative one. The legal foundation for this advancement is firmly established under the Companies Act. Sections 839 and 843 grant the Registrar the authority to prescribe the manner, form, and authentication modes for lodged documents.
BRS is utilizing this authority to modernize compliance, ensuring that documents are not only properly submitted but are also inherently more reliable and verifiable from the moment of filing. The public has been invited to come experience the system and give their feedback on January 20th, 2026.
This update comes hours after the Capital Markets Authority (CMA) rolled out its own upgrade, a new, mandatory financial reporting system for every licensed broker, investment bank, and market intermediary operating in the country.
