Section 151
of International Business Companies Order, 2000
Section 151
(1)
If in any year an IBC fails to pay a prescribed renewal fee as required by section 6(4)(b) and the failure continues beyond the period of two months beginning on the due date, then, subject to subsection (4), the Registrar shall, within the next succeeding two months serve on the registered agent of the IBC, a written notice that the IBC will be struck off if that fee is not paid within such period (being not less than thirty days) from the date of the notice as is specified therein.
(2)
If, following service of a notice under subsection (1) on the registered agent of an IBC, the prescribed renewal fee concerned is not paid within the period specified in the notice, the Registrar shall strike the IBC off the register.
(3)
Where the Registrar has struck an IBC off the register under subsection (2), he shall –
(a)
within one month of the striking off give notice in writing to the IBC’s registered agent that the IBC has been struck off; and
(b)
within two months of the striking off publish notice in the Gazette of the striking off.
(4)
The striking off of an IBC under this section shall not be affected by any failure on the part of the Registrar to give notice to the registered agent or to publish a notice in the
Gazette.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
142
BLUV as at 20th June 2017
(5)
This section does not apply to an IBC which is in the process of being wound up and dissolved.
Restoration to register.