How long does the CIPC deregistration process take?
3 calendar months
To complete the entire deregistration process (notifications to interested parties) takes 3 calendar months, whereafter a notification will be posted to the applicant (called a final deregistration letter). CIPC also publishes a list of all entities that have been finally deregistered on its website.
What happens when a company is in a process of deregistration?
Deregistration terminates the authority of a person who was a lawful agent of the company or CC prior to deregistration and an attorney who continues to act for the company or CC may be held personally liable for the costs of the action from the date of deregistration.
What happens when CIPC deregister a company?
During the deregistration process notifications are mailed to the company or close corporation’s registered postal address as per CIPC records, informing it of the intended deregistration and a request to either provide confirmation that it is still active or to file outstanding annual returns.
What does AR deregistration process mean on CIPC?
29- “AR final deregistration” to indicate that a company or close corporation was deregistered due to annual return non compliance; 3. 28 – “re-instatement process” to indicate that a company or close is in the process of being re-instated, regardless of the cause of deregistration (Form CoR40. 5); 4.
How do I reinstate my deregistered company?
- The company or close corporation was in business at the time of deregistration (Sufficient documentary evidence in the form of bank statements for a period of six months before and six months after deregistration are required).
- Immovable property is registered in the name of the deregistered business; or.
Can I sue a deregistered company?
Can I start legal proceedings against a deregistered company? Once a company is deregistered it ceases to exist as a legal entity. If you need to bring legal proceedings against the company then you need to have the company reinstated first.
Can you sue a company in deregistration?
Any summons served on a company or CC that has been deregistered, cannot be enforced; similarly a company or CC that has been deregistered cannot issue summons against a defaulting debtor.
How do I restore a deregistered company?
How long does voluntary deregistration take?
The process can take up to two weeks. Deregistration will take place two months after ASIC publishes its notice. If you change your mind about deregistering the company, you may be able to stop deregistration. You can do so by contacting ASIC and advising why the company should not be deregistered.
Can you revive a deregistered company?
How can I restore a deregistered company? You can apply to reinstate a company in certain circumstances. First, you must check if the company name is still available. Next, if your name is available, you need to complete the relevant forms and provide any supporting evidence.
How long does it take to reinstate a company?
about 3 to 4 months
Once all the necessary documents have been correctly submitted to the Registrar the company will be restored to the Register often within a few days. Where the company is to be restored by Court Order the process is likely to take about 3 to 4 months.
Can a company be reinstated after deregistration?
The deregistration is treated as if it never occurred. A company can be reinstated either by application to ASIC or by application to the court for an order for reinstatement.
Can a dissolved company be taken to court?
You may be able to sue a dissolved corporation or a dissolved limited liability company for a period of time after dissolution, especially if it failed to wind up its business and dissolve properly. And if the company no longer has assets or an insurance policy to go after, you might be able to sue the former owners.
Can a deregistered company enter into a contract?
A de-registered company ceases to exist as a legal entity and cannot enter into a contract in its own right. Former officeholders no longer have the right to deal in the company name.
How long do you have to reinstate a company?
We can only accept applications to restore a company from a former director or member of a limited company or a former member of a limited liability partnership (LLP) within 6 years of the company dissolved date.
How do I revive a deregistered company?
Unlike the Norwegian Blue, however, it is possible to resurrect a company that has been deregistered, for the purpose of enforcing a claim. This is under section 601AH(2) of the Act by making an application to the Federal Court or the Supreme Court of NSW as “a person aggrieved” by the deregistration.
Can a deregistered company have a bank account?
bank accounts cannot remain open or operational. Any funds in a company’s bank account at the date of de-registration will normally vest in ASIC. If an account registered in the name of a de-registered company is identified it will be immediately frozen by the bank for both deposits and withdrawals.
Can a company be reinstated after being dissolved?
Administrative restoration is a procedure for restoring your company if the business was forcibly dissolved e.g. struck off for not filing accounts on time. It’s possible to apply for administrative restoration by contacting Companies House and completing the administrative restoration form.