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Notice of Proposal to Strike Off
I need a Notice of Proposal to Strike Off for a company that has been inactive for over a year, with no outstanding debts or liabilities, and requires notification to be sent to all relevant stakeholders, including shareholders and creditors, within a 30-day period before the strike-off process begins.
What is a Notice of Proposal to Strike Off?
A Notice of Proposal to Strike Off warns companies that the Corporate Affairs Commission (CAC) plans to remove them from Nigeria's company register. The CAC issues this notice when businesses fail to file annual returns, maintain proper records, or show signs of being inactive.
Companies receiving this notice have 90 days to respond and prove they're still operating. If they don't act, the CAC will publish their names in the Federal Gazette and eventually dissolve them. This process helps keep Nigeria's business registry current by removing defunct companies and ensuring active ones maintain proper compliance.
When should you use a Notice of Proposal to Strike Off?
The Corporate Affairs Commission (CAC) issues a Notice of Proposal to Strike Off when companies stop meeting their legal obligations. Common triggers include failing to file annual returns for two consecutive years, maintaining outdated registered office addresses, or showing no signs of business activity.
This notice becomes necessary when regular compliance reminders go unanswered, or when the CAC's routine checks reveal prolonged company inactivity. It serves as a final warning before deregistration, giving legitimate businesses a chance to update their records and continue operating, while helping remove inactive entities from Nigeria's corporate registry.
What are the different types of Notice of Proposal to Strike Off?
- Standard CAC Strike-Off Notice: Issued directly by the Corporate Affairs Commission for general non-compliance or inactivity
- Voluntary Strike-Off Notice: Used when companies request their own removal from the register
- Group Company Strike-Off Notice: Tailored for corporate groups with multiple subsidiaries facing deregistration
- Publication Strike-Off Notice: The formal gazette announcement version required by Nigerian law
- Final Strike-Off Warning: The last notice issued before actual company dissolution
Who should typically use a Notice of Proposal to Strike Off?
- Corporate Affairs Commission: Issues and enforces the Notice of Proposal to Strike Off, monitors compliance, and maintains Nigeria's company registry
- Company Directors: Responsible for responding to the notice and ensuring proper compliance to avoid deregistration
- Company Secretary: Handles administrative responses, files necessary documents, and maintains communication with CAC
- Legal Practitioners: Advise companies on their rights and obligations when facing strike-off notices
- Creditors and Stakeholders: Must be notified of potential strike-off as it affects their interests in the company
How do you write a Notice of Proposal to Strike Off?
- Company Details: Gather accurate registration number, registered office address, and directors' information
- Compliance History: Document missed annual returns, outstanding fees, or other regulatory breaches
- Timeline Review: Track dates of previous compliance notices and company responses
- Stakeholder Information: List all affected parties requiring notification
- Documentation: Compile evidence of non-compliance or inactivity
- Notice Format: Our platform generates properly formatted strike-off notices meeting CAC requirements
- Publication Details: Prepare Federal Gazette announcement information
What should be included in a Notice of Proposal to Strike Off?
- Company Identification: Full legal name, registration number, and registered office address
- Legal Authority: Citation of relevant sections of CAMA 2020 authorizing the strike-off action
- Grounds for Strike-Off: Clear statement of non-compliance or inactivity reasons
- Response Period: Specified 90-day timeframe for company response
- Required Actions: Detailed steps the company must take to avoid strike-off
- Consequences: Clear explanation of deregistration effects and asset disposition
- Official Authentication: CAC seal, authorized signature, and issuance date
What's the difference between a Notice of Proposal to Strike Off and a Notice of Termination?
A Notice of Proposal to Strike Off differs significantly from a Notice of Termination in several key aspects, though both involve ending formal relationships. Understanding these differences helps ensure you use the right document for your situation.
- Legal Authority: Strike-off notices come exclusively from the CAC under CAMA 2020, while termination notices can be issued by any party ending a business relationship
- Scope of Impact: Strike-off affects the company's entire legal existence and all stakeholders, whereas termination notices typically affect only specific contractual relationships
- Response Timeline: Strike-off notices mandate a 90-day response period by law, while termination notices follow contract-specific notice periods
- Consequences: Strike-off leads to complete company dissolution and asset disposition, but termination notices only end specific agreements while preserving the company's existence
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