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To ?strike off? a company means to close it down. However, it is important to note that this is the only way to close a local company. Striking off means deregistering from the Accounting and Corporate Regulatory Authority (ACRA) registry.
When a company seems inactive, perhaps because it hasn't filed its confirmation statement or accounts, Companies House may take steps to remove it from the company register. This is called being 'struck off'. Before a company is removed, Companies House publishes a notice in The Gazette.
6 Steps to Dissolve a Corporation #1 ? Seek Approval from the Board of Directors and Shareholders. First, hold a meeting with the board of directors. ... #2 ? File Articles of Dissolution. ... #3 ? Finalize Taxes. ... #4 ? Notify Creditors. ... #5 ? Liquidate and Distribute Assets. ... #6 ? Wrap Up Operations.
An Active Proposal to Strike Off refers to a formal proposal made to Companies House, the United Kingdom's official register of companies, to strike off or dissolve a company. This action usually begins when a company files a DS01 form, which is an application for striking off.
The process of dissolving a company is done by the company's directors by submitting a DS01 form and paying the relevant fee. A notice is then placed in the Gazette stating the company's intention to strike itself from the register. If no objections are received, the company will be dissolved.