An update from the Companies Office says that despite the availability of the Section 343 CRO District Court Late Filing Fee Waiver Application, only a minimal number of companies are utilizing this option, opting instead to pay the late filing fee.

The report also highlights the impending resumption of enforcement action against companies late in filing returns, suspended since March 2020 due to the Covid-19 pandemic. With the likelihood of action resuming soon, practitioners anticipate a surge in companies facing involuntary strike off, potentially resulting in inadvertent loss for some companies. The repercussions of involuntary strike off for non-filing of statutory returns will significantly impact around 50,000 company directors currently in arrears with CRO returns.