ORC begins processes to strike out 8531 defaulting companies from its register

The Office of the Registrar of Companies says it has commenced legal processes to remove about 8,531 Companies Limited by Shares in de­fault for more than two years from the Companies Register by the end of May this year.

In a statement, the ORC said the decision has become necessary to purge the register of dormant companies and companies in de­fault for failure to file their annual returns and update their records as directed by the Registrar of Companies in accordance with Section 126 of the Companies Act 2019 (Act 992).

“Currently 8,531 Companies Limited by Shares (Both Public and Private) as at December 2023 have failed to comply with the Registrar's directive to file their annual returns each year, hence they have been found to be in default.

"Consequently these companies will be struck off from the Companies Register by 31st May, 2024. These companies can however still file their annual returns together with their audited financial statements with the Office by the end of May 2024 before the process of striking off companies is completed," the statement said.