Company Status(for Efiling) Strike Off In Cook
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When a limited company is removed from the Companies House register, it is known as a 'strike off. ' There are two types of company strike-offs – a compulsory strike-off and a voluntary strike-off. Once a company has been through the strike-off process, it ceases to exist and cannot trade, make payments or sell assets.
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. Eventually, this results in the company being dissolved.
“RESOLVED THAT the consent of the Board of Directors of the Company be and is hereby ed to make an application to the Registrar of Companies, under the provisions of section 248 of Companies Act 2013 for striking off the name of the Company from the Register of Companies.
Effect of Company After Strike-Off Once a company is struck off from the Register of Companies, it ceases to exist as a legal entity and can no longer carry out any business operations. Its name is removed from the official records, and it is dissolved.
On dissolution all remaining property or rights become bona vacantia with ownership passing to the Crown. A company cannot normally make a distribution except out of profits available for distribution and therefore cannot distribute its share capital when it is struck off.
The registrar may strike the company off the register and, on being struck off, the company is dissolved.
An official strike happens when a union and its members legally stop working by following such rules and regulations as the work stoppage being agreed to by a majority of union members. Workers engaging in official strikes have better protections against being fired, as opposed to an unofficial strike.
“Strike off” refers to the removal of the company name from the company register, resulting in its dissolution. This method is used when a company is not in operation, is not carrying on a business, has ceased to carry on a business or if it has overdue fees or penalties.
If you were a director of a company in compulsory liquidation or creditors' voluntary liquidation, you'll be banned for 5 years from forming, managing or promoting any business with the same or similar name to your liquidated company. This includes the company's registered name and any trading names (if it had any).
