Section 240 Companies and Allied Matters Act (CAMA) 2020
Section 240 CAMA 2020 Place of meeting (1) With the exception of small companies and companies having a single shareholder, all statutory and annual general meetings shall be held in Nigeria. (2) A private company may hold its general meetings electronically provided that such meetings are conducted in accordance with the articles of the company
Section 239 Companies and Allied Matters Act (CAMA) 2020
Section 239 CAMA 2020 Extraordinary general meeting (1) The board of directors may convene an extraordinary general meeting whenever they deem fit, and if at any time they are not within Nigeria, sufficient directors capable of acting to form a quorum, any director may convene an extraordinary general meeting. (2) An extraordinary general meeting of […]
Section 238 Companies and Allied Matters Act (CAMA) 2020
Section 238 CAMA 2020 Businesses transacted at annual general meeting All businesses transacted at annual general meetings are deemed special business, except declaring a dividend, presentation of the financial statements and the reports of the directors and auditors, election of directors in the place of those retiring, the appointment, fixing of the remuneration of the […]
Section 237 Companies and Allied Matters Act (CAMA) 2020
Section 237 CAMA 2020 Annual general meeting (1) Except in the case of a small company or any company having a single shareholder, every company shall in each year hold a general meeting as its annual general meeting in addition to any other meeting in that year, and specify the meeting as such in the […]
Section 236 Companies and Allied Matters Act (CAMA) 2020
Section 236 CAMA 2020 Non-compliance and penalty Without prejudice to the provisions of section 567 of this Act, if a company fails to comply with the requirements of section 235 of this Act, the company and any officer in default commits an offence and are liable to a fine for everyday during which the default […]
Section 235 Companies and Allied Matters Act (CAMA) 2020
Section 235 CAMA 2020 Statutory Meeting (1) Every public company shall, within a period of six months from the date of its incorporation, hold a general meeting of the members of the company (in this Act referred to as “the statutory meeting”). (2) The directors shall, at least 21 days before the day on which […]
Section 234 Companies and Allied Matters Act (CAMA) 2020
Section 234 CAMA 2020 Application of certain sections Subject to the provisions of this Part of this Act and unless the context otherwise admits, the provisions of sections 171, 172, 175, 177, 180 and 181 of this Act relating to share certificates and transfer of shares shall apply in respect of shares as if “debentures” […]
Section 233 Companies and Allied Matters Act (CAMA) 2020
Section 233 CAMA 2020 Remedies available to debenture holders (1) At any time after a debenture holder or a class of debenture holders, becomes entitled to realise his or their security, a receiver of any asset subject to a mortgage, charge or security in favour of the class of debenture holders or the trustee of […]
Section 232 Companies and Allied Matters Act (CAMA) 2020
Section 232 CAMA 2020 Realisation of debenture holder’s security (1) A debenture holder is entitled to realise any security vested in him or in any other person for his benefit if—(a) the company fails to pay any instalment of interest, or the whole, part of the principal or any premium, owing under the debenture or […]
Section 231 Companies and Allied Matters Act (CAMA) 2020
Section 231 CAMA 2020 Registration of appointment order, etc. (1) If any person obtains an order for the appointment of a receiver or manager of the property of a company, or appoints such a receiver or manager under any power contained in any instrument, he shall, within seven days from the date of the order […]