Corporate Strike-off

Administrative Removal

The registrar sends a warning notice to the last known address of the company before the final action is taken. If no response is received within the specified timeframe, a notice is published in the official gazette to inform the public that the company will be dissolved.

Asset Vesting

Property and rights held by the entity at the time of the removal automatically pass to the state under the principle of bona vacantia. This means the bank accounts and real estate of the company become the property of the government until the company is legally reinstated. The directors and shareholders lose the ability to manage these assets as soon as the name is removed from the register.

Any contracts held by the business are terminated by operation of law because the legal person no longer exists to perform the obligations. This transfer of ownership is absolute unless a court order reverses the dissolution and returns the assets to the company.

Reinstatement Period

Owners have a limited window of time to petition the court or the registrar to restore the company to the register. This process requires the filing of all missing documents and the payment of penalties to prove that the business should be allowed to continue.