Section 435 CAMA 2020 Section 435 Companies and Allied Matters Act is about Procedure where nominee is not the liquidator or administrator. It is under Chapter 17 (Company voluntary arrangements) of the Act. (1) This section applies where the nominee under section 434 is not the liquidator or administrator of the company. (2) The nominee…

Section 434 CAMA 2020 Section 434 Companies and Allied Matters Act is about Those who may propose an arrangement. It is under Chapter 17 (Company voluntary arrangements) of the Act. (1) The directors of a company may make a proposal under this Part to its creditors for a composition in satisfaction of its debts or…

Section 433 CAMA 2020 Section 433 Companies and Allied Matters Act is about Liability for paying dividend out of capital. It is under Chapter 16 (Annual returns) of the Act. (1) All directors who knowingly pay, or are party to the payment of dividend out of capital or in contravention of this Part, are personally…

Section 432 CAMA 2020 Section 432 Companies and Allied Matters Act is about Right of the shareholders to sue for dividends. It is under Chapter 16 (Annual returns) of the Act. (1) Dividends are special debts due to and recoverable by shareholders within 12 years, and actionable only when declared. (2) Dividends that are unclaimed…

Section 431 CAMA 2020 Section 431 Companies and Allied Matters Act is about Employees’ shares and profit-sharing. It is under Chapter 16 (Annual returns) of the Act. If under his contract of service, an employee is entitled to share inthe profits of the company as an incentive, he is entitled to share in the profits…

Section 430 CAMA 2020 Section 430 Companies and Allied Matters Act is about Reserve and capitalisation. It is under Chapter 16 (Annual returns) of the Act. (1) The directors may, before recommending any dividend, setaside out of the profits of the company such sums as they think proper as areserve or reserves which shall, at…

Section 429 CAMA 2020 Section 429 Companies and Allied Matters Act is about Unclaimed dividends. It is under Chapter 16 (Annual returns) of the Act. (1) Where dividends paid by a company remain unclaimed, the company shall publish in two national newspapers, a list of the unclaimed dividends and the names of the persons entitled…

Section 428 CAMA 2020 Section 428 Companies and Allied Matters Act is about Restriction on declaration and payment of dividends. It is under Chapter 16 (Annual returns) of the Act. A company shall not declare or pay dividend if there are reasonable grounds for believing that the company is or would be, after the payment,unable…

Section 427 CAMA 2020 Section 427 Companies and Allied Matters Act is about Distributable profits. It is under Chapter 16 (Annual returns) of the Act. (1) A company may pay dividends only out of profits available for the purpose. (2) The profits of a company available for payment of dividends are its accumulated, realised profits…

Section 426 CAMA 2020 Section 426 Companies and Allied Matters Act is about Declaration of dividends and payment of interim dividend. It is under Chapter 16 (Annual returns) of the Act. (1) A company may, in general meeting, declare dividends in respect of any year or other period only on the recommendation of the directors.…