Section 572 CAMA 2020 Section 572 Companies and Allied Matters Act is about Definition of inability to pay debts. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act. A company is deemed to be unable to pay its debts if— (a) a creditor, by assignment or otherwise, to whom the company…

Section 571 CAMA 2020 Section 571 Companies and Allied Matters Act is about Circumstances in which companies may be wound up by Court. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act. A company may be wound up by the court if— (a) the company has by special resolution resolved that…

Section 570 CAMA 2020 Section 570 Companies and Allied Matters Act is about Jurisdiction as to Winding-up. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act. (1) The Court having jurisdiction to wind up a company is the Federal High Court within whose area of jurisdiction the registered office orhead office…

Section 569 CAMA 2020 Section 569 Companies and Allied Matters Act is about Contributories in case of bankruptcy of member. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. (1) If a contributory becomes bankrupt, either before or after he has been placed on the list of contributories, then— (a)…

Section 568 CAMA 2020 Section 568 Companies and Allied Matters Act is about Contributories in case of death of member. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. (1) If a contributory dies either before or after he has been placedon the list of contributories, his personal representatives, heirs…

Section 567 CAMA 2020 Section 567 Companies and Allied Matters Act is about Nature of liability of contributory. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. (1) The liability of a contributory creates a debt of the nature of an ordinary contract debt accruing and due from him at…

Section 566 CAMA 2020 Section 566 Companies and Allied Matters Act is about Definition of contributory. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. The term, “contributory” means every person liable to contribute to the assets of a company in the event of its being wound up, and for…

Section 565 CAMA 2020 Section 565 Companies and Allied Matters Act is about Liability as contributories of present and past members. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. In the event of a company being wound up, every present and past member is liable to contribute to the…

Section 564 CAMA 2020 Section 564 Companies and Allied Matters Act is about Modes of winding-up. It is under Chapter 20 (Winding-up of companies modes of winding-up) of the Act. (1) The winding-up of a company may be effected— (a) by the Court ; (b) voluntarily ; or (c) subject to the supervision of the…