Question : If my Company
is struck off by SSM for failing to file the Annual Returns and Financial
Statements, can I reinstate my Company?
Usual
circumstances whereby a Company is struck off would be that a Company failed to
file the Annual Return and Financial Statement for a period of time.
Law
to restore the Company to the Registrar.
It
is provided that a Company can be restored to the Registrar of the Company
under Section 308(5) of the Companies
Act.
“308. Power of Registrar to strike
defunct company off register.
“If any
person feels aggrieved by the name of the company having been struck
off the register, Court on an application made by the person at any
time within fifteen years after the name of the company has been so struck off
may, if satisfied that the company was, at the time of the striking off,
carrying on business or in operation or otherwise that it is just that the name
of the company to be restored to the register, and upon an office copy of the
order being lodged with the Registrar the company shall be deemed to have
continued in existence as if its name had not been struck off, and the Court
may by the order give such directions and make such provisions as seem just
for placing the company and all other persons in the same position as nearly as
may be as if the name of the company had not been struck off”
In
Order to invoke Section 308(5) the Company must satisfy three limbs of the Act
namely:
·
That the Applicant is a person aggrieved within Section
308(5)
·
That the application is made within 15 years after the
Company has been struck off; and
·
That at the time of the striking off, the Company was
carrying on business or in operation.
Steps to Take
The Company would need to file an Originating Summon in Court together
with an Affidavit In Support indicating that the Company is
still in operations together with proof e.g. latest Annual Return and Financial
Statement and Assets of the Company.
This
Originating Summon could be filed by the Lawyer appointed by the Company.
Prayer/Order
which is needed from Court:
“bahawa nama syarikat ABC (No.
Syarikat…) dimasukkan semula ke dalam daftar Syarikat Defendan menurut
peruntukkan Seksyen 308(5) Akta Syarikat 1965”;
Once
the Petition is filed, the Court may give directions: -
To
file a further affidavit in Court to complete the unaudited balance sheet and
profit and loss accounts for the Years which is has not complied with.
In the alternative to exhibit the unaudited balance sheet and profit and loos accounts for the current years and provided an undertaking to SSM to provide an audited accounts to the SSM in the near future.
Affidavit
should also contain a confirmation by the company to pay all fees and compounds
to be, or as may be, imposed on it by the SSM, which may come up to RM2,000-00.
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