Section 14 Companies and Allied Matters Act 2020

Section 14 CAMA 2020

Section 14 Companies and Allied Matters Act, 2020, is about Expenditure of the Commission. It is under PART A (CORPORATE AFFAIRS COMMISSION) of the Act.

Expenditure of the Commission

The Commission may apply the proceeds of the Fund—
(a) to the cost of administration of the Commission;
(b) for re-imbursing members of the Board or any Committee set up by the Board for such expenses as may be authorised or approved by the Board, in accordance with the rate approved in that behalf by the Minister ;

(c) to the payment of salaries, fees or other remuneration or allowances, pensions and gratuities payable to the employees of the Commission ;
(d) for the maintenance of any property acquired or vested in the Commission ; and
(e) for any purpose related to the functions of the Commission under this Act.

See also  Section 147 Companies and Allied Matters Act 2020

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