Last reminder to companies that are to be struck off the register

During 2007, the National Board of Patents and Registration strikes off limited liability companies from the Trade Register on the basis of failure to submit annual accounts documents (see Companies Act, Chapter 20, section 4, paragraph 3).

The obligation to prepare and submit annual accounts concerns

• every limited liability company and
• each accounting period under the company's Articles of Association

irrespective of whether the company is currently in business or not (Accounting Act, Chapter 1, section 1 and Chapter 3, section 9).

The second striking-off procedure in 2007 has now been launched and it includes about 2,500 limited liability companies

• which, according to the Tax Administration, are not currently in business,
• which have not submitted their annual accounts documents for registration.

The annual accounts documents shall be submitted by 20 December, 2007

The companies included in the striking-off procedure which have not yet submitted their annual accounts have been sent a second letter containing an invitation to submit for registration the annual accounts documents. The invitation has been sent under the address which a company has reported to the Business Information System. The address can be checked in the BIS Information Service.

Under chapter 20, Section 4 of the Companies Act, a company can be invited to report the annual accounts documents from the accounting period that has ended over one year ago. Alternatively, documents from a newer accounting period can be submitted for registration. For example, if the accounting period of a company is the calendar year, the company has to report for registration its annual accounts for the accounting period 1 January- 31 December 2005 or 1 January – 31 December 2006.

The notice of the annual accounts documents must be submitted no later than on 20 December 2007.

The invitation is registered and published

• An entry of the invitation is made in the Trade Register on 19 September 2007, and
• the invitation is published in the Official Gazette No. 109 on 19 September 2007.

At the same time, shareholders and creditors are invited to make comments, if any, concerning the matter. The comments shall be made not later than on 20 December 2007.

Striking-off in December

Companies from which no notice is received regarding their annual accounts, and in respect of which there are no preconditions for putting them into liquidation, will be struck off the Register at the end of December 2007.

More information on the previous steps of the striking-off procedure is available in Announcement Archive section of this website.

For further information, if necessary, please call +358 9 6939 5597.