Criteria to Strike Off a Company
Striking off Criteria
Other requirements to fulfill before striking off a company
Company has been dormant since incorporation
The applicant is required to submit a covering letter stating that the company had:
Company has submitted its last audited accounts before 15 May 2003
The financial accounts should be unqualified and should have no assets and liabilities.
However, if the accounts are:
Company has submitted its last unaudited accounts after 15 May 2003
The financial accounts should have no assets and liabilities.
However, if the accounts consist of assets & liabilities, applicant has to submit documentary evidence for the disposal or settlement of assets and liabilities. The accounts have to be certified by the directors.
How to Strike Off a Company
A company may apply to ACRA to strike its name off the Register pursuant to Section 344 of the Companies Act. ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the criteria for striking off.
Review Process for Striking Off
If ACRA receives any objection, after approval of the application has been granted but before the company has been struck off the Register, it will inform the company of the objection. The company is given 2 months to resolve the matter. If the company is unable to resolve the matter after 2 months, the striking off process will be terminated. The company will have to submit a new application again if it still wishes to be struck off.
Objection against Striking Off
Any interested person can submit “Lodgment of an Objection against Striking Off” via BizFile to object to a striking off application. The fee payable is $10. ACRA will withhold the striking off and advise the company to clear the outstanding debt within 2 months from the date of the objection.
If the company is able to resolve the matter within the 2 months period, the person who objects to the striking off application is required to lodge “Clearance of an Objection to Striking Off” via BizFile before ACRA can proceed the striking off application. There is no fee required for this transaction.
If the company is unable to resolve the matter within the 2 months period, the striking off application will lapse. The company will have to submit a fresh striking off application if it still wishes to be struck off the register.
Any interested person who suspects that a company (i.e. debtor) intends to apply for striking off may lodge a “Notice of Intention to Lodge Objection to Future Striking Off Application” via BizFile. The fee payable is $10 and the objection will be valid for one year. If the company submits an application for striking off, we will notify the objector via email and he can then submit an online objection via BizFile.
Withdrawal of Striking Off Application
A company can write in to ACRA to apply for withdrawal of its application for striking off before the company has been struck off the Register. The reason(s) for withdrawal should be clearly stated in the letter. The fee for the withdrawal application is $30.
After a Company has been Struck Off
A company can be reinstated within 15 years from the date of striking off. An order from court is to be obtained to reinstate the company which has been struck off. Upon receiving it, it is to file “Notification of Restoration of Company that has been Struck Off / Dissolved” at a filing fee of $10.