BANDAR SERI BEGAWAN, Oct. 15 (Xinhua) -- Brunei's Ministry of Finance and Economy, through the Registry of Companies and Business Names Division (ROCBN), has informed companies registered under the Companies Act that it will be implementing the Inactive Companies Strike-Off Initiative.
In a press release issued on Monday, the ministry said under the Companies Act, all registered companies are required to hold an annual general meeting and to file their annual returns with the Registry.
The initiative will take effect on Nov. 1, 2025, during which ROCBN will begin issuing individual enquiry letters to all inactive companies, providing them the opportunity to respond.
The ministry said, if an answer showing cause to the contrary is not received within 30 days from the date of the first letter of enquiry, a notice will be published in the Brunei government gazette with a view to striking the name of the company off the register. Companies that wish to remain registered are advised to reply formally.
ROCBN reminds all companies of the importance of maintaining compliance with the legal and regulatory requirements under the Companies Act. ■
