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CAPITAL LAW CORPORATION
LAWYERS
The Registrar of Companies may strike a company from the
register of companies if the company has for two years failed
to file its annual report.
Some
of the reasons for seeking a restoration are:
- If a company ceases to exist while it still has assets, those
assets will become the property of the Crown. A restoration will
allow the company to reacquire those assets.
- A dissolved company is incapable of paying debts and discharging
liabilities, therefore, creditors sometimes seek to restore a
company to obtain payment for outstanding debts.
- A dissolved company cannot file corporate tax returns. A restoration
will allow the company to file corporate tax returns.
- A dissolved company cannot be sued, therefore, a party wishing
to sue the company may apply to have the company restored.
The restoration procedure is as follows:
- Apply for the approval and reservation of the company's name;
- Publish a notice of the application in the BC. Gazette;
- Mail a notice of the application to the company's last registered
address;
- File a Form 30 and all outstanding annual reports with the
Registrar of Companies;
- Change the company's registered and records office address,
if required;
- Update the company's records with the Certificate of Restoration.
After the Registrar of Companies has received the Form 30, the Registrar will publish a notice in the B.C. Gazette and issue a Certificate of Restoration. Following its restoration a company is deemed to have continued in existence as if it had not been dissolved.
Capital Law Corporation
offers company restorations for an all-inclusive price of
$1,150., for most companies.
CAPITAL LAW CORPORATION
Suite
300 - 1681 Chestnut Street, Vancouver, BC V6J 4M6
Telephone:
(604) 664-7650
Fax: (604) 664-8950
Email: info@bcincorporations.ca
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