Procedure for the Restoration of the Name of a Company Struck off the Register of Companies by the Corporate Affairs Commission (CAC)
- Introduction
The Corporate Affairs Commission (“the Commission”), published a final list of 91,194 companies to be struck off the register of companies by a notice dated 5th December 2023. This came after the commission had previously issued a notice dated 31st July 2023 on its intention to commence striking off about 92,649 companies that continuously failed to file the mandatory annual returns under Section 417 of the Companies and Allied Matters Act 2020 (“the Act”). The Commission took this initiative to ensure that dormant or inactive companies, and going concerns that have habitually failed to fulfil obligations under the Act are properly sanctioned as provided under Section 692 of the Act.
This article will examine the instances when a company will be struck off the register of companies and highlight the remedial steps for companies that have been struck off the register.
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