1. What do Companies need to do to be up to date with the Corporate Affairs Commission (CAC)?
For a company to be in good standing with the CAC, it must file its first annual returns within 18 months after its incorporation and not later than 42 days after its Annual General Meeting (AGM) for the period. Thereafter companies are required to file their annual returns not later than 15 months after the last AGM but no later than 42 days after the AGM for the year. The purpose of this exercise is to keep the records of the company up to date and to allow for the CAC to confirm that the company is a going concern (not dormant). In addition to filing annual returns, companies are required to appoint a Company Secretary and to file a notice of compliance with this requirement either at the point of incorporation or shortly thereafter. As a means of enforcing compliance with the requirements for filing annual returns and appointing a Company Secretary, the CAC will not accept any other post-incorporation filings by companies which are in default with regards to these filing requirements.
2. When can a company be said to be dormant?
A company is said to be dormant where the CAC has reasonable cause to believe it is no longer carrying on business. A default in filing annual returns for years is the usual criteria applied by the CAC in confirming that a company is dormant. The CAC has the power to strike of the names of companies which have been dormant for an inordinately long period from the list of companies registered with it . Before proceeding to strike off a company’s name from the CAC’s register of companies, adequate notice must be given to the company of the intention to de-register the company as a result of its failure to meet its filing obligations.
3. How can you revive a dormant company?
A dormant company which is yet to be de-listed by the CAC may be revived by the filing of all its outstanding annual returns. If, however, the company’s name has been struck off from the list of registered companies, the company is to be regarded as dissolved and can no longer be revived except by an order of court.
 Section 525, Companies and Allied Matters Act
 Section 525 (6), Companies and Allied Matters Act
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