The Corporate Affairs Commission (CAC) has given over 91,000 dormant companies a 90-day grace period to file all their outstanding annual returns or risk being delisted from its register.

These affected companies are those that have not filed annual returns for a period of ten years.

This was disclosed by the CAC in a statement published on its website on Wednesday.

The statement was tagged “NOTICE OF INTENTION TO STRIKE OFF COMPANIES FROM THE REGISTER.”

According to the statement, all dormant companies in the last ten years are due for delisting in line with Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020.

Section 692 of the Companies and Allied Matters Act, 2020 (CAMA) mandates the CAC to strike off the name of a defunct company from the Register of Companies.