Lye Yew Cheong v Accounting and Corporate Regulatory Authority
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Case Significance
In Lye Yew Cheong v Accounting and Corporate Regulatory Authority (Xie Zhiyang Keith, non-party) [2024] SGHC 270, the General Division of the High Court heard Originating Application No 533 of 2024, an application by Mr Lye Yew Cheong for an order that the name of Concept Werk Pte Ltd (the "Company") be restored to the register of companies maintained by the Registrar of Companies of the Accounting and Corporate Regulatory Authority (the "ACRA"), pursuant to section 344(5) of the Companies Act 1967 (2020 Rev Ed). As set out in the judgment, section 344(5) allows a person aggrieved by a company's name having been struck off to apply within 6 years after the striking off, and the court may make a restoration order if satisfied that the company was, at the time of striking off, carrying on business or in operation, or that it is otherwise just. Goh Yihan J reserved judgment, which was delivered on 23 October 2024, addressing the factors the court should consider in determining whether to order restoration.
Summary
Mr Lye Yew Cheong applied under s 344(5) of the Companies Act 1967 for an order restoring Concept Werk Pte Ltd to the register of companies after it had been struck off as a defunct company, having engaged the company for HDB renovation works; the Accounting and Corporate Regulatory Authority did not object, but a former director, Mr Xie Zhiyang Keith, intervened as a non-party to oppose the application. The issue was whether the company had been carrying on business or in operation at the time of striking off, or whether it was otherwise just to restore its name, and what factors the court should consider. The court allowed the application and ordered that the company's name be restored to the register, finding it had still been in operation at the time of striking off.
What was sought in Lye Yew Cheong v Accounting and Corporate Regulatory Authority [2024] SGHC 270?
Mr Lye Yew Cheong applied under section 344(5) of the Companies Act 1967 (2020 Rev Ed) for an order restoring the name of Concept Werk Pte Ltd to the register of companies maintained by the Registrar of Companies of ACRA. Goh Yihan J decided the application.
What does section 344(5) of the Companies Act provide according to [2024] SGHC 270?
As described in the judgment, section 344(5) lets a person aggrieved by a company's name being struck off apply within 6 years for restoration, and the court may order it if satisfied the company was carrying on business or it is otherwise just.
Statutes Cited
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Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2024] SGHC 270)