How do I restore a company to the register?
Companies who have been removed from the register for any reason specified under the Companies Act 2009, must apply to have the company restored to the register.
What if I don’t restore my company. Can I just keep on doing business?
If you do not restore your removed company, under the Companies Act 2009, all of the assets of the company transfer to the Crown.
This means that your company will no longer own property, stock, equipment etc. You may find it difficult to do business with banks and other traders.
By restoring your company to the register, you will be able to continue with business as usual, as all assets automatically transfer back to the company on restoration.
Is this a clever way for me to shut down my business?
If you do not restore your company, this does not mean you have wound up or liquidated your company. Contracts you have signed with other parties will still be enforced against your company, loans will still be enforced against your company, and you may still be sued as a company.