Section 554
Effect of striking off
ActIn forceProvision 554 of 768
Section 554
(a)
the liability, if any, of every director or officer and member of the company continues and may be enforced as if the company had not been dissolved; and
(b)
nothing in section 550 shall affect the power of the Court to wind up a company, the name of which has been struck off from the register provided that there is proof that the company has a property which can be realised.
(2)
Where the Court issued a winding up order under paragraph (1)(b), the liquidator shall only be required to discover and realise any assets of the company.