Section 315 CAMA 2020

Section 315 Companies and Allied Matters Act is about Special resolution of limited company making liability of directors unlimited. It is under Chapter 11 (Directors) of the Act.

(1) A limited company, if so authorised by its articles, may, by special resolution, alter its memorandum so as to render unlimited the liability of its directors or managers, or of any managing director.

(2) Upon the passing of any such special resolution, the provisions of it are as valid as if they had been originally contained in the Memorandum.