Yes, but only in the following three scenarios, namely; if the companies owns property or if the company continued to trade after it was deregistered or by an order of the court. For any other reason other than these three scenarios CIPC will not restore your company.  

A final deregistration is exactly that, meaning you would have to manually apply to CIPC to restore your company.

A deregistration in process means that the process has not been finalised and you can still have a chance to pay and submit online to avoid deregistration. In both scenarios you would have to pay all the outstanding fees and penalties for each outstanding year. 

A deregistered company does not have any legal status. This means that the assets of the company are forfeited to the state. The bank account will be frozen and certain decision that the directors take will be deemed as void. 

CIPC will allow the company to be restored, however this is an admin intensive process as it requires a Deeds Office search, a letter from the department of Public Works, 12 months bank statements proof of an advert in a local paper and an affidavit stating why the annual returns were not paid.

Once the application has been accepted by CIPC there will be another window period during which all the outstanding annual returns and penalties need to be paid in full in order to restore the company. 

It is an admin heavy process and due to all the documentation required from third parties it usually takes 6 to 8 weeks

CIPC requires proof that your company was active before, during and after the deregistration, therefore the 12 month bank statements must show the 6 months trading before and 6 months trading after the deregistration date.