There are various circumstances in which a company (or close corporation) can become deregistered at the CIPC.
1. The company itself can apply for deregistration at the CIPC, for any number of reasons.
2. If a company has not submitted and paid its annual returns for more than two successive years, the CIPC will inform such a company of the fact and the intention of the CIPC to deregister said company. If such a company does not take any steps to remedy the situation, the CIPC will proceed to finally deregister it.
3. If the CIPC believes that the company has been inactive for seven or more years.
How can a company be restored?
It is possible to restore such a company or close corporation which has been finally deregistered, but all outstanding information and annual returns (including the fees) will have to be lodged with the CIPC. An additional R200 prescribed re-instatement fee must also be paid.
Recently, the CIPC has set additional requirements to do this, which also impacts on the time, administration and cost to restore such a company. These requirements took effect from 1 November 2012.
The steps and requirements for the re-instatement process are:
Upon compliance of all of the above requirements, the CIPC will issue a notice to the company that it is restored.
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)