Section 58 Investments and Securities Act 2025

Section 58 of the Investments and Securities Act 2025 is about Insolvency laws in other jurisdictions. It is under Part V (Registration and Regulation of Securities Exchanges, Financial Market Infrastructures and other Self Regulatory Organisations) of the Act. It provides as follows:

A court shall not, under any law, give effect to any —
(a) order of a court exercising jurisdiction in relation to the law of insolvency in a place outside Nigeria; or

(b) act of a person appointed outside Nigeria to perform any function under the law of insolvency in a place outside Nigeria, if the making of the order or the performance of the act is prohibited, in the case of a court within Nigeria or an official receiver or liquidator by provisions made by or under sub-part C and D of Part V of this Act:

Provided that the making of the order or the doing of the act would be prohibited in the case of a court within Nigeria or an official receiver or liquidator by provisions made by or under sub-part C and D of Part V of this Act.