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CS Executive · Company Law and Practice · Legal Status and Types of Registered Companies

Under section 455(5), what is required of a dormant company to retain its dormant status in the register?

A dormant company must have the prescribed minimum number of directors, file the prescribed documents and pay the prescribed annual fee to the Registrar. Section 455(5) sets these conditions, and under section 455(6) failure leads the Registrar to strike its name off the register of dormant companies.

  1. AHold a general meeting every quarter
  2. BHave the prescribed minimum number of directors, file the prescribed documents and pay the prescribed annual feeCorrect
  3. CMaintain a minimum paid-up capital fixed by the Tribunal
  4. DObtain annual approval of the Tribunal

Explanation

Section 455(5) requires a dormant company to have the prescribed minimum number of directors, file prescribed documents and pay the prescribed annual fee to retain its status. Failure to comply leads to the Registrar striking its name off the register of dormant companies under section 455(6).

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