Registrar striking off powers balanced against company restoration rights to prevent grave prejudice while ensuring compliance.
Registrar authority to strike company names aims to address non compliance, but tribunals emphasise a practical, prejudice averse approach: companies showing continuing operations, asset ownership, or inadvertent filing lapses may access the restoration procedure, provided they regularise statutory compliance and satisfy conditions such as affidavits and payment of costs. (AI Summary)

Significant Beneficial Owner identification expanded to include indirect foreign control, prompting registrar enforcement and mandatory BEN filings.
Companies must identify Significant Beneficial Owners by tracing indirect holdings, cross-ownership and effective control through related entities and must use prescribed BEN notices and returns to elicit and record declarations. A company's unilateral conclusion that no individual holds majority shares does not absolve it from investigating indirect or concerted control where board composition, appointments, or cross-holdings indicate human control. The Registrar may invoke penal provisions and require BEN filings where mandated identification and declaration steps are not taken. (AI Summary)