The form PBC3 is a document used in the change of ownership of a Private Business Corporation in Zimbabwe.It gives details of the members of the company.
When do I need to change it?
It should be updated within 30 days of any changes to the particulars of the members such as the removal of a member from the company or the addition of a new member in the PBC.
Why is the PBC3 important?
The CR14 document is important because:
it serves the main purpose of confirming to the company, as well as to members of the public who have dealings with the company, who the owners of the company are.
It is a mandatory requirement for almost every administrative or contractual agreement the business enters into such as government tenders, opening a bank account, applying for a loan and payment of taxes.
In the event of disagreements amongst partners or the death of another partner, it provides protection to those that have contributed to the business and their surviving families in the case of death as it is admissible in the court of law as proof of ownership.