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(b) any facts on which the objection is based are not, or are no
longer correct; or
(c) the objection is frivolous and vexatious.
(4) The Registrar shall send a notification to the objector and the
company if he decides to suspend or to continue with the process of
striking off the company.
Withdrawal of striking off application
553. Subject to a payment of a prescribed fee, an applicant referred to
in section 550 may withdraw the application by lodging a notice of
withdrawal to the Registrar.
Effect of striking off
554. (1) Where a company is struck off from the register under
section 549, the company shall be dissolved, but—
(a) the liability, if any, of every director or officer and member
of the company continues and may be enforced as if the
company had not been dissolved; and
(b) nothing in section 550 shall affect the power of the Court to
wind up a company, the name of which has been struck off
from the register provided that there is proof that the
company has a property which can be realised.
(2) Where the Court issued a winding up order under
paragraph (1)(b), the liquidator shall only be required to discover and
realise any assets of the company.
Power of Court to reinstate struck off company into register
555. (1) Any person who is aggrieved by the decision of the Registrar
to strike off the company may, within seven years after the name of the
Companies 525
company has been struck off, apply to the Court to reinstate the name
of the company into the register.
(2) If the Court is satisfied that the company was at the time of the
striking off, carrying on business or in operation or otherwise that it is
just that the name of the company be reinstated in the register, the
Court may order that—
(a) the name of the company be reinstated; and
(b) 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 not been struck off.
(3) Upon an office copy of the order is lodged with the Registrar,
the company shall be deemed to have continued in existence as if its
name had not been struck off.
Subdivision 2
Management of Assets of Dissolved Companies
Power of Registrar to represent dissolved company in certain
circumstances
556. (1) Where after a company has been dissolved, it is proved to
the satisfaction of the Registrar—
(a) that the company if still existing would be legally or
equitably bound to carry out, complete or give effect to some
dealing, transaction or matter; and
(b) that in order to carry out, complete or give effect to the
dealing, transaction or matter some purely administrative act
should have been done by or on behalf of the company if still
existing,
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the Registrar may in representing the company or its liquidator under
this section do or cause to be done any such act.
(2) The Registrar may execute or sign any relevant instrument or
document stating that he has done so under this section, and the
execution or signature shall have the same force, validity and effect as
if the company, if existing, had duly executed such instrument or
document.
Outstanding assets of dissolved or struck off company to vest in
Registrar
557. (1) Where, after a company has been dissolved, there remains
any outstanding property, movable or immovable, including things in
action and whether within or outside Malaysia which at the time it was
dissolved —
(a) was vested in the company;
(b) the company was entitled to it; or
(c) the company had a disposing power,
but which was not got in, realized upon or otherwise disposed of or
dealt with by the company or its liquidator before the dissolution, the
property, except called and uncalled capital, shall, for the purposes of
the following sections of this Subdivision and notwithstanding any
other written law to the contrary, be vested in the Registrar for all the
estate and interest, legal or equitable, of the company or its liquidator
at the date the company was dissolved, together with all claims, rights
and remedies which the company or its liquidator had at that time.
(2) For the purposes of subsection (1), where any claim, right or
remedy of the liquidator may, under this Act, be made, exercised or
availed of only with the approval or concurrence of the Court or some
other person, the Registrar may make, exercise or avail himself of that
claim, right or remedy without that approval or concurrence.
