Company deregistrations on hold due to Covid-19

The Investment Promotion Authority (IPA) has put on hold the deregistration of companies which failed to comply with regulations, an official said.
Acting registrar of companies Harriet Kokiva told The National that the exercise, expected to be carried out at the end of March, had to be cancelled because of the Covid-19 state of emergency.
“I can confirm that plans to conduct the deregistration exercise for batch two of non-compliant companies in March was cancelled due to the Covid-19 pandemic,” she said.
“We will continue with the exercise when the situation is normal again.”
A total of 4,666 companies have been removed from IPA’s registry in January during the deregistration exercise for the first batch of companies which failed to file annual returns up to year 2000.
An annual return is a yearly update of public information about a company on the companies’ register which includes addresses, details of directors and shareholders.
It is a requirement by the companies’ office that companies’ records are up to date for the purpose of correspondences between the office of the registrar of companies and the companies.
Kokiva said earlier that notices of intention were issued on Nov 7, 2019.