The Companies Act 2006 received Royal Assent on 8 November 2006, although its provisions with respect to company restoration have not yet been brought into force.
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With effect from 1 October 2009, the Companies Act 2006 will bring about sweeping changes to company restoration procedures.
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The main changes are summarised as follows:
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At present, an application may be made to restore a company within 20 years of the date of its dissolution. This time limit will be reduced to 6 years.
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The Companies Act 2006 introduces an “administrative restoration” to the Companies Register. An application for administrative restoration may be made to Companies House without the need to go through the court. However, an application for administrative restoration may only be made where the company was trading at the time of its striking off and the company will continue trading following restoration. This would cover a situation in which the company was struck off for not filing its accounts and annual returns. It would not cover a situation in which an application for voluntary strike-off had been made which would still need to go through the court in order to recover the company’s assets.
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A former director as well as a former member as at the date of dissolution may make an application for both administrative restoration and an application to the court for restoration.
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These notes are intended for general guidance only and individual advice should be sought as appropriate.
