(Bandar Seri Begawan, 13th) The Registry of Companies and Business Names Division (ROCBN) under the Ministry of Finance and Economy hereby notifies that for companies registered under the Companies Act (Chapter 39), it will implement the "Inactive Company Strike-Off Program."
The main purpose of this program is to strike off inactive companies from the registry in accordance with Section 287A of the Companies Act (Chapter 39).
According to Section 111 of the Companies Act (Chapter 39), all registered companies must hold an annual general meeting.
Sections 107 and 108 of the same Act also require registered companies to submit annual returns to the registry. Failure to comply is a statutory offence. Since these companies have not submitted their annual returns, the registry has reasonable grounds to believe that these companies are not carrying on business or are not operational.
Therefore, pursuant to Section 287A(1) of the Companies Act (Chapter 39), the registrar has the authority to remove the companies from the register.
This measure will take effect from November 1, 2025. At that time, ROCBN will issue individual inquiry letters to all inactive companies, providing them an opportunity to respond.
According to Section 287A(1) of the Companies Act (Chapter 39), if no reply stating reasons to the contrary is received within 30 days from the date of the first inquiry letter, the name of the company may be removed from the register. Companies wishing to remain registered should reply formally. Compliance guidelines will be attached to ROCBN's inquiry letter.
Companies are reminded of the importance of complying with legal and regulatory requirements of the Companies Act (Chapter 39).
If you have any queries, please contact the Ministry of Finance, ROCBN, via email:
enforcement.rocbn@mofe.gov.bn, phone: +673 2380505 / +673 2380662 / +673 7471433.
The main purpose of this program is to strike off inactive companies from the registry in accordance with Section 287A of the Companies Act (Chapter 39).
According to Section 111 of the Companies Act (Chapter 39), all registered companies must hold an annual general meeting.
Sections 107 and 108 of the same Act also require registered companies to submit annual returns to the registry. Failure to comply is a statutory offence. Since these companies have not submitted their annual returns, the registry has reasonable grounds to believe that these companies are not carrying on business or are not operational.
Therefore, pursuant to Section 287A(1) of the Companies Act (Chapter 39), the registrar has the authority to remove the companies from the register.
This measure will take effect from November 1, 2025. At that time, ROCBN will issue individual inquiry letters to all inactive companies, providing them an opportunity to respond.
According to Section 287A(1) of the Companies Act (Chapter 39), if no reply stating reasons to the contrary is received within 30 days from the date of the first inquiry letter, the name of the company may be removed from the register. Companies wishing to remain registered should reply formally. Compliance guidelines will be attached to ROCBN's inquiry letter.
Companies are reminded of the importance of complying with legal and regulatory requirements of the Companies Act (Chapter 39).
If you have any queries, please contact the Ministry of Finance, ROCBN, via email:
enforcement.rocbn@mofe.gov.bn, phone: +673 2380505 / +673 2380662 / +673 7471433.