Section 126 CAMA 2020

Section 126 Companies and Allied Matters Act is about Notice required where shares consolidated, etc. It is under Chapter 7 (Share Capital) of PART B (Incorporation of Companies and Incidental Matters) of the Act.

(1) If a company having a share capital has—
(a) consolidated and divided its share capital into shares of larger amount than its existing shares, or

(b) subdivided its shares or any of them, the company shall within one month after so doing, give notice of it to the Commission specifying, the shares consolidated, divided, or subdivided.

(2) If default is made in complying with this section, the company and every officer of the company are liable to such fine as the Commission may prescribe by regulation, for every day during which the default continues.

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