A company can be deregistered either automatically by failing to file annual returns or manually by referring the company for deregistration to the Companies and Intellectual Property Commission (“CIPC”).
Deregistration will begin automatically when a company fails to file two or more annual returns. The CIPC will then notify the company to inform them of their deregistration status (using the contact details provided to them). And the company will be deregistered altogether when a maximum of five annual returns are outstanding.
A company can also be manually referred for deregistration by any person, company or close corporation (incl. the company itself), provided the company has ceased to carry on business and has no assets or inadequate assets for the purpose of liquidation.