Introduction
The Registrar of Companies has the power to strike off defunct companies from the register. The common reason is failure to file annual returns and audited accounts.
Once struck off, the company is dissolved. Aggrieved parties can apply to the court to reinstate the company within 7 years.
Legal Provisions
Applications for reinstatement must comply with Section 555 of the Companies Act and Rule 88 of Court Rules.
Applicants must file an originating summons supported by an affidavit explaining reasons and evidence.
The registrar of Companies must be named as a respondent. Registrar will review each case before indicating support or objection to the court.
Evidence Required
The proof company carried on business or operational at the time of striking off, e.g. audited accounts and annual returns.
Evidence of any assets at striking off, e.g. property titles, bank accounts.
Commitment to pay compounded penalties and file outstanding documents within the timeframe if reinstated.
Conclusion
The guidelines clarify procedures and evidence required for reinstating struck-off companies. Directors must proactively maintain proper company records and filings.
Seek early legal advice if the company is dissolved. Be prepared to submit documentary evidence of business activities and assets. Ultimately, courts will assess if reinstatement is just and equitable.
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