Section 1169

For the purposes of the Companies Acts a company is “dormant” during any period in which it has no significant accounting transaction. A “significant accounting transaction” means a transaction that is required by section 386 to be entered in the company's accounting records. In determining whether or when a company is dormant, there shall be disregarded— any transaction arising from the taking of shares in the company by a subscriber to the memorandum as a result of an undertaking of his in connection with the formation of the company; any transaction consisting of the payment of— a fee to the registrar on a change of the company's name, a fee to the registrar on the re-registration of the company, a penalty under section 453 (penalty for failure to file accounts), or a fee to the registrar for the registration of a confirmation statement. Any reference in the Companies Acts to a body corporate other than a company being dormant has a corresponding meaning.

← 7 · All articles · 1 →

Source: legislation.gov.uk · retrieved 2026-09-04