Article 300A: A Forgotten Remedy Or A Secret Tool?

Maria DeBono, Associate in the Corporate & Commercial Department, sheds light on the utility of Article 300A of the Companies Act, which deals with the rectification of the scheme of distribution, a remedy frequently forgotten in practice but which may be a useful tool for stakeholders concerned.

The striking off of the name of a company from the company register is akin to the death of a natural person as it is the moment a company ceases to exist for all intents and purposes. Although natural persons cannot be revived (at least without divine intervention) companies can be revived and reinstated to the company register, bringing them back to their status quo ante, by the order of the court.