Chapter 2: Formation, Administration and Dissolution of Companies
Part A: Reservation and registration of company names
R12: Abuse of name reservation system
- (1) A notice contemplated in section 12 (6) must be issued by the Commission in Form CoR 12.1, and must-
- (a) specify clearly the purpose of the notice in terms of the items listed in section 12 (6)(a) to (d); and
- (b) set out the grounds upon which the Commission has formed the requisite belief that the notice is justified.
- (2) If a person who has received a notice in Form CoR 12.1 to show cause why a name should be reserved, continue to be reserved or why a reservation should be transferred, as contemplated in section 12 (6)(a)-
- (a) fails to respond to that notice within 40 business days after receiving it, the Commission must issue either-
- (i) a notice in Form CoR 9.5, rejecting the application to reserve the name, or
- (ii) a further notice in Form CoR 12.1, cancelling the reservation, or refusing to extend or transfer the reservation, as the case may be.
- (b) provides information to the Commission within 40 business days after receiving Form CoR 12.1, the Commission, after considering that information, must issue either-
- (i) a notice in Form CoR 9.4 accepting the reservation, extension or transfer as the case may be; or
- (ii) a further notice in Form CoR 12.1, cancelling the reservation, or refusing to extend or transfer the reservation, as the case may be.
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