ICASA requires that all licensees inform it of any changes to details in the prescribed format, within 7 days of making the change. These details include:
- the name of the Licensee;
- the entity type of the Licensee;
- contact details, including the contact person;
- physical address; and
- financial year end.
Note that IECNS and IECS licensees should not change shareholding without obtaining advice on how this will affect their licences. This is a particularly challenging area for both licensees and ICASA, involving robust engagement on shareholding changes in progress, as well as the likelihood that the underlying regulations and procedures are unlikely to stay static, particularly in relation to HDI & BBBEE. The financial implications of making this change can be substantial, so please ensure that you seek legal advice prior to making any shareholding changes.