In the South African case of case of G Walker Engineering CC t/a Atlantic Steam Services v First Garment Rental (Pty), the court found that the effect of the deregistration of a company was that all its property, including any third party claims vested in the state as bona vacantia. The effect of the disclaimer above is that such property is taken never to have vested in the State. However, the Attorney General may discharge such property vested in the state by issuing a notice of disclaimer of ownership of that property. Under the Act, the effect of dissolution of a company is that the property that had not been distributed immediately prior to the dissolution of a company vests in the state with effect from dissolution of the company. Such an application as stated above may not be made where an application to the Court under Part XXXIV has been made on behalf of the company for the sanctioning of a compromise or arrangement and the matter has not been finally concluded. Such an application is effective only if it is made on behalf of the company by its directors or by a majority of them. The registrar may also strike the company’s name off the Register on application by a company. Where a company applies to the Registrar that it be struck off the register In the case of a company that is in liquidation and where the Registrar reasonably believes that the affairs of the company are fully wound up or that no liquidator is acting, the registrar may strike the company’s name off the Register. If the correspondence indicates that a company is not in operation, the registrar may strike off the company from the register and the company will be dissolved.
the Registrar may then send to the company by post, a letter inquiring whether the company is carrying on business or is operation. Where the Registrar reasonable believes that a company is not carrying on business or is not in operation, Where a company is not carrying on business or is not in operation. The Companies Act 2015 provides for instances when a company may be dissolved.
The act of reinstating a deregistered company is also referred to as restoration. Notwithstanding deregistration/dissolution, a deregistered/dissolved company may also be reinstated. With deregistration however, such liability does not cease to exist. Where a company is dissolved, the liability of the directors, members and officers ceases. Theoretically, while both deregistration and dissolution have the effect of terminating the legal existence of a company, their consequences are different.
A deregistered/dissolved company ceases to exist. At the end of its doing business, a company may also be deregistered or dissolved.
AQUARELLA CATALOGO 2014 REGISTRATION
The registration of a company also known as ‘incorporation’ brings the company into existence. Judicial perspectives on restoration of a Company
Who may bring an application for court restoration? When can an application to the Court for restoration be made The effect of dissolution of a companyġ.2 RESTORATION OF A COMPANY TO THE REGISTER OF COMPANIES.Ī) Administrative restoration (restoration by the Registrar)Ĭonditions for Administrative restoration The effect of administrative restoration of a companyī) Court ordered restoration (Application to Court for restoration) Instances when a company may be dissolved from the Register of Companies
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