dormant company
noun[C]
ukusFINANCE,WORKPLACE
acompanythat does nottrade, but may have otherpurposessuch asprotectingabrandname:
Funds weretransferredto adormantcompany, from whichclientshadaccesstotheirmoneyin aformthat wasexemptfromtax.
Examplesofdormant company
dormant company
The result is adormantcompanywith large liabilities that can not be met and it has to be put into liquidation.
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The definition of adormantcompanyis one which has no significant transactions.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
In clause 37, the formation of a new company or the use of adormantcompanyis unnecessary.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
Thirdly, they require adormantcompanyacting as an agent for a third party to disclose its agency status in its annual accounts.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
I turn more briefly to the changes todormantcompanystatus.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
Thedormantcompanymay exempt itself from the obligations to appoint auditors by passing a special resolution and filing it with the registrar of companies.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
They are already covered by statute on dormant companies.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
I do not know who actually has benefited from that procedure, except possibly dormant companies.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
There has been reference to dormant companies, which must constitute the majority of companies currently registered, although we do not know how many are dormant.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
In one case, where audit might represent all the outgoings—that of dormant companies—we are indeed ending the audit requirement.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
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