The Registrar of Companies has the power to strike companies off the Register. It is a discretionary power which she will only use if a Director of the company makes a formal request to strike the Company off the Register.  The requirement has consistently been imposed by the Registrar that a company applying for Voluntary Strike-off (VSO) should have no assets or outstanding liabilities, whether contingent or prospective, as at the date of the application to the Companies Registration Office. The foregoing requirement has now been clarified to confirm that this means that the amount of the company’s liabilities (contingent and prospective) must not exceed €150 and that a company does not have (and did not have in the previous 3 years) an issued share capital in excess of €150. A company applying for VSO must also not have assets in excess of €150.  

For more information please click here.

Contributed by Deirdre Mooney.

Back to Legal News