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Home » Nigeria CAMA 2020 » Section 147 Companies and Allied Matters Act 2020

Section 147 Companies and Allied Matters Act 2020

Section 147 CAMA 2020

Section 147 Companies and Allied Matters Act is about Issue of redeemable preference shares. It is under Issue Of Shares of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Issue of redeemable preference shares

(1) No company limited by shares shall, after the commencement of this Act issue any preference shares which are irredeemable.

(2) A company limited by shares may, if so authorized by its articles, issue preference shares which are liable to be redeemed subject to such conditions as may be prescribed in the terms of issue or in the articles of the company.

See also  Section 162 Companies and Allied Matters Act 2020

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