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Microsoft has a method to easily disable certain ActiveX controls, using a "kill-bit". It is documented at http://support.microsoft.com/kb/240797
The "kill-bit" for Flash Player is documented in http://kb2.adobe.com/cps/190/tn_19091.html
What does that mean?
Flash Player may not be working on Internet Explorer, and the 'Shockwave Flash Object' add-on may not show up at all. Most likely because the FP ActiveX has been "kill-bited" by some anti-malware app.
How to check and remove the "kill-bit"?
WARNING! Fiddling with the Windows Registry may render Windows or installed components unusable. Always make a registry backup or a System Restore Point before attempting to manually change anything in the registry!
regedit.exe
HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Internet Explorer\ActiveX Compatibility\{D27CDB6E-AE6D-11CF-96B8-444553540000}
Compatibility Flags
that has any value other than 0x00000000, then the "kill-bit" for Flash Player may be setCopy link to clipboard
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As of Flash Player version 10.3, the "kill-bit" is now automatically removed by the Flash Player installer.