Non functional companies to be struck off

L. S. Ananda WEDAARACHCHI

Thousands of non-functional companies will be struck off the register of the Company Registrar's Department.

The Registrar General of Companies D.K. Hettiarachchi said that there were thousands of companies which were in the register as registered companies in the department, but had not been functioning during the last few years.

Under Subsection 2 of section 487 of the Companies Act No. 7 of 2007, all companies had to apply for a new number within the period of 12 months ending 2 May 2008.

Another six months had been given to the companies which had not applied for a new registration number, he said.

He said that more than 60,000 companies had been registered with the Department of the Registrar of Companies.