Companies Act 2014 section 1403

Restoration by the court

Section 1403 adapts the general court restoration provisions to investment companies by significantly shortening the time limit within which a struck-off investment company may apply to court for restoration to the register.

• An investment company that has been struck off may apply to the court to be restored to the register within 2 years of the date of dissolution, rather than the standard 20-year period that applies to other company types.
• The shortened timeframe is intended to improve the efficiency of the dissolution process for regulated investment companies.
• The provision is designed to encourage dissolution by voluntary strike-off rather than by members' voluntary winding up, avoiding the need to appoint a liquidator.
• This approach enables the Central Bank to complete the revocation of authorisation of an investment company in a shorter period than would be the case under a formal winding-up process.