Company Restoration
Interactive Wizard
Since the implementation of the Companies Act 2006 two options are available for restoring a company (Court Order Restoration and Administrative Restoration) with certain conditions attached with each method of application.
Use our interactive “wizard” to find out which type of application you should be making.
Answer each question, to find out which type of Company Restoration Application you need to make...
4. In what capacity will the applicant be signing the official application?
5. What is the purpose of restoring the Company?
Outcome
Under these circumstances the Company cannot be restored, unless it is for a personal injury claim.
Outcome
The Company can only be restored via an application made to the High Court.
Outcome
Generally court order restoration would be advisable though legally both routes, admin restoration and court order restoration are available.
Outcome
The Company can be restored via administrative restoration. However, if the penalties on late filing of accounts are high you may want tor review your reasons for restoring the Company.
More About Company Restoration
Company Restoration is the process by which a dissolved (struck off) company is restored to the register held at companies house.
There can be a number of reasons why a limited company may get struck off the Register.
The Registrar of companies has power under section 1000 of the Companies Act 2006 to strike off a company if
- he has not received documents from a company that should have sent them to him; or
- mail that the registrar has sent to a company’s registered office is returned undelivered; or
- the company has no directors.
The legislation requires the Registrar to send three notices to the company’s registered office before taking a company off the Register.
When a company is dissolved any assets held by the dissolved company will become ‘Bona Vacantia’. The term ‘Bona Vacantia literally means vacant goods and is the legal name for ownerless property which by law passes to the Crown. When the company’s bank comes to know of the company being dissolved they freeze the company’s account. If the company was actively trading when it was struck off it can have detrimental effects on the business.
So, one of the reasons for restoring a company is to claim the assets back from the Bona Vacantia department. In some cases the company may want to release the assets and close down again while others may want to continue business and unfreeze the bank account as quickly as possible. This latter case is usually the most urgent one. Fortuanately, for such cases where the company wants to continue in business administrative restoration via companies house is now possible. This avoids having to make a court application which is relatively more expensive and longer procedure.
How is restoring the company different from setting up another company with exactly the same name?
When you incorporate a new company you will be setting up a new entity with a different company number to the one that was dissolved, though the company name of both companies may be the same. You will not be able to transfer assets of the old company into the new company because they are two different entities or ‘persons’ in law. Nor will you be able to trade with the new company and pretend it is the old company as this is a criminal offence. Company restoration on the other hand brings back the ‘dead’ company as if it had never been dissolved.
Whatever the circumstances we can provide a fast and professional solution to recover the company’s assets or to get it back on the Register to continue business.
