BODIES CORPORATE (OFFICIAL LIQUIDATIONS) ACT - 1963 (ACT 180)

Section - 50 - Dissolution of Company

(1) When the Registrar is satisfied that the official winding up of a company is complete he shall strike the name of the company off the register and notify the same in the Gazette; and the company shall, thereupon, be deemed to be dissolved as at the date of the publication of the notification in the Gazette.

(2) Where a company has been dissolved, the Court may, at any time within two years after the date of the dissolution, on application being made for the purpose by the Registrar or by any former officer, member or creditor of the company, or any person claiming through or under him, make an order, upon such terms as the Court thinks fit, declaring the dissolution to have been void and ordering the name of the company to be restored to the register.

(3) An office copy of an order made under subsection (2) of this section, shall be delivered to the Registrar for registration and he shall cause the same to be published in the Gazette; and thereupon the name of the company shall be restored to the register and the company shall be deemed to have continued in existence as if it had not been dissolved, except that for the purpose of any period of limitation, time shall not be deemed to run during the period between the dissolution and the restoration.

(4) The court may, by order give such directions and make such provisions as seem just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had never been struck off.