The Corporate Affairs Commission (’the Commission’) issued a public notice stating that it would commence the process of striking off companies that have not complied with the provisions of the Companies and Allied Matters Act (’CAMA’) from the Register of Companies within 90 days of the notice’s publication. The CAMA provides the Commission with the power to strike off companies when the Commission observes or has reasonable cause to believe that a company is not carrying on business or has not complied with provisions of the CAMA for a consecutive period of 10 years.
This informational article examines the concept of striking off, the power of the Commission to strike off a company from the register, explains when such power can be utilised and remedial actions that may be taken by affected companies before considering the impact of the Commission's recent notice for striking off.
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Commencement of Striking off Companies From the Register – All You Need to Know