We have previously noted the suspension of the Companies House voluntary strike off process preventing companies being removed from the Register of Companies and it has now been announced that this suspension will be lifted from 10 September 2020. At this point any company which was already in the voluntary strike off process will once again move towards dissolution.
The voluntary strike off procedure is a two month process to remove a company from the register of companies and starts with the publication by Companies House of a strike off notification in the Edinburgh Gazette (or London Gazette in the case of an English company). With an undoubted backlog to process we can expect to see a large number of companies being struck off the Register around two months from 10 September 2020.
The reason for the two month window is to allow a chance for any objection to be made. It is possible to object to a strike off application if you have reason to believe a company should not be struck off, for example, if you were owed money and wanted to seek to recover it. If you were looking to make an objection to this process, advice should be sought of the nature of the objection as soon as possible in order to ensure that the objection is lodged in good time.
This service starting up is to be welcomed as a return to normality and allows companies to remove dormant subsidiaries and other non-trading companies which are no longer required. The compulsory strike off provisions which exist in relation to failure to file documentation at Companies House remain suspended until further notice so it is not quite a return to business as normal.
If you have any queries about the information contained in this blog or want to discuss the strike off process please get in touch with your usual Morton Fraser contact.