Management of Asset of Dissolved Company

Section 556 of the Companies Act 2016 provides for the power of the Registrar to represent dissolved company in certain circumstances where it is proved to the satisfaction of the Registrar that the dealing, transaction or matter is purely administrative in nature.

Section 557 provides that the outstanding assets of dissolved companies to vest in the Registrar. Upon vesting of the assets in the Registrar, the Registrar may, in accordance with Section 558 dispose or deal with such estate or interest in the property as he deems fit in the following manner:

  • by public auction;
  • by public tender; or
  • private contract.

Guidelines – section 556 & section 558 Companies Act 2016 : Link
Sample ‘letter of Indemnity' : Link
Sample  ‘Form 14A’ : Link