C3C2Part 38Companies: interpretation

Annotations:
Modifications etc. (not altering text)
C3

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Other definitions

C1C41169Dormant companies

1

For the purposes of the Companies Acts a company is “dormant” during any period in which it has no significant accounting transaction.

2

A “significant accounting transaction” means a transaction that is required by section 386 to be entered in the company's accounting records.

3

In determining whether or when a company is dormant, there shall be disregarded—

a

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;

b

any transaction consisting of the payment of—

i

a fee to the registrar on a change of the company's name,

ii

a fee to the registrar on the re-registration of the company,

iii

a penalty under section 453 (penalty for failure to file accounts), or

iv

a fee to the registrar for the registration of F1a confirmation statement.

4

Any reference in the Companies Acts to a body corporate other than a company being dormant has a corresponding meaning.