S.L. 386.32 Art. 12Dissolution and striking off.

(1) The youth enterprise shall be dissolved by unanimous decision of the members and in accordance with the simplified dissolution procedure as referred to in article 214A of the Act. For the purpose of this sub-article, sub-article 2(b) of article 214A of the Act shall not apply:

Provided that the application shall be made by means of the prescribed returns in Annex VII, VIII and IX submitted to the Registrar, signed by the members of the company.

(2) Where the Registrar has reasonable cause to believe that the youth enterprise is not carrying on any business activity or is not in operation or all the members have attained the age of eighteen (18) without applying to the Registrar to convert the youth enterprise into a commercial partnership, the Registrar may send to the youth enterprise by post or email, a letter inquiring whether the youth enterprise is carrying on business or is in operation. If the Registrar receives a reply to the effect that the youth enterprise is not carrying on business or is not in operation or all members have attained the age of eighteen (18), or does not within one (1) month of sending the letter receive a reply thereto, he may send to the youth enterprise a notice by post and publish such notice in the Gazette or on a website maintained by the Registrar and in a daily newspaper circulating wholly or mainly in Malta that, at the expiration of three (3) months from the date of the last publication of the said notice, the name of the youth enterprise shall, unless cause is previously shown to the contrary or the Registrar is satisfied that there are sufficient grounds not to proceed with the striking off, be struck off the Register and the assets of the youth enterprise shall devolve upon the Government of Malta:

Provided that the youth enterprise cannot trade during the three (3) month period after the publication of the aforementioned notice.