Erase date in the Plan of Dissolution

Aug 6th, 2022
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How to erase date in the Plan of Dissolution

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hey everyone thank you for joining us here at ontario business central my name is john and today were going to talk about dissolving a business in ontario regardless of why youre closing your business there are steps you need to take in order to dissolve an incorporated business think of this as the natural business life cycle just as you need to register when you first open you also need to formally file for the solution if you choose to close your business we cant overstate the importance of a formal dissolution legally your business is only considered close to when you have completed the articles of dissolution and received a certificate of dissolution with the province of ontario this puts a definite end date to the operations and responsibilities of an incorporated business dont worry you dont have to navigate this process alone ontario business central is here to help we can assist you with a dissolution so you can focus on other things that are important in your life lets

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After the dissolution of a company, the firm stops carrying on business. They do not accept any new business either. But the firm does not automatically wrap up all their business overnight. The whole process of winding up takes time.
Dissolution of a company is when a company is dissolved by order of a Tribunal, i.e. National Company Law Tribunal (NCLT), after the completion of its winding-up process. The companys dissolution brings its existence to an end, and its name is struck off by the Registrar of Companies (ROC).
: termination or destruction by breaking down, disrupting, or dispersing. the dissolution of the republic. their marriages dissolution. d. : the dissolving of an assembly or organization.
Once a business entity is administratively dissolved, it is prohibited by statute from engaging in any activities other than those necessary to liquidate its assets and wind up its affairs.
There are 3 main ways a company can be dissolved administratively, voluntarily, and judicially. I will not detail the judicial dissolution process because it does not seem applicable in your situation.
Definition. The date on which an Organisation formally ceased to be. This may be the date on which it was taken over or wound up.

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