Over times one pause to ask if the registration with corporate affairs commission has validity period?
The process of Registration of companies and business names under corporate affairs commission becomes successful upon issuance of certificate of registration for a business name, or certificate of incorporation for a company.
In the course of registration, the applicant has high hopes of doing business with the certificate and enjoying the certificate.
The certificate of registration from corporate affairs commission is evidence of registration of the business.
The proprietor of the business name or directors of the company are always encouraged to safely keep the certificate.
The business name and company certificate issuance are tied to conditions which the owners must abide with.
under the laws regulating business name and company registration, the proprietors are required to file annual return to the commission.
The failure of the owners of company to file annual return might propel the commission to delist and strike out the registration of such business.
in essence failure to file annual return repeatedly for years is a ground for expiration of cac certificate.
Another ground for the expiration of cac certificate, is where the directors or proprietors utilizes such to carry on illegality.
A typical example is where the proprietors engage in acts capable of tempering with the sovereignty of Nigeria.
Another example is where the proprietors engage in acts encouraging enemy countries from waging war against Nigeria.
A cac certificate will also be withdrawn from the owners, where they utilize it to promote criminality.