Strike-Off Procedures
/straɪk ɒf prəˈsiːdʒəz/
Strike-off procedures are the formal process by which a company registry removes a company from the official register of companies, effectively dissolving the business entity.
Strike-off procedures are the formal process by which a company registry removes a company from the official register of companies, effectively dissolving the business entity.
Strike-off procedures are administrative actions taken by company registries to remove companies that are no longer trading, filing required documents, or meeting their legal obligations.
This process essentially erases the company's legal existence, meaning it can no longer operate as a business entity.
Strike-off procedures typically begin when companies fail to file annual returns, don't pay required fees, or appear to be dormant for extended periods.
The registry will usually send warning notices before initiating the formal strike-off process.
During strike-off procedures, the registry publishes a notice in an official gazette giving the company and any interested parties time to object.
If no valid objections are received within the specified timeframe, the company is formally removed from the register.
Yes, you can usually halt strike-off procedures by filing outstanding documents, paying overdue fees, or formally objecting to the strike-off if your company is still active.
However, you must act quickly within the notice period provided.
Once strike-off procedures are completed, your company ceases to exist legally, its assets may pass to the state, and you lose the right to use the company name.
Any contracts or agreements in the company's name become void.
Strike-off procedures can result in company assets being transferred to the state as "bona vacantia" (ownerless property).
This includes bank accounts, property, and intellectual property that belonged to the dissolved company.
You can sometimes restore a struck-off company through restoration procedures, but this typically requires court applications or administrative restoration processes, which can be complex and time-sensitive depending on your jurisdiction's rules.
