A corporation which is deregistered under the Companies Act 2008 is automatically and retrospectively re-vested with its rights when it is reinstated (under section 82(4)).
In ZNK Investments CC v Luckytso Transport and Construction CC, a sale in execution of a deregistered close corporation had taken place whilst it was deregistered. It was held
The Supreme Court of Appeal settled the debate surrounding the interpretation and relationship between s56(c) of the Mineral and Petroleum Resources Development Act 2002 and s73(6A) of the Companies Act 1973 by declaring that a right which has lapsed due to the deregistration of the company which is the holder of the right is revived