Question
What can a company formed under the Companies Act, which
has no significant accounting transactions and is intended for a future project or asset holding, do?Solution
Section 455. Dormant company: (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner as may be prescribed for obtaining the status of a dormant company.
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