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Home » Nigeria CAMA 2020 » Section 63 Companies and Allied Matters Act 2020

Section 63 Companies and Allied Matters Act 2020

Section 63 CAMA 2020

Section 63 Companies and Allied Matters Act is about Re-registration of public company as private limited company. It is under Chapter 2 (Re-registration Of Companies) of PART B (INCORPORATION OF COMPANIES AND INCIDENTAL MATTERS) of the Act.

Re-registration of public company as private limited company

(1) A public company may be re-registered as a private limited company if—
(a) a special resolution that it should be so re-registered is passed ;
(b) the conditions specified under this section are met ; and

(c) an application for re-registration is delivered to the Commission in accordance with section 66, together with—
(i) the other documents required by that section, and
(ii) a statement of compliance.

(2) The conditions are that—
(a) where no application under section 64 for cancellation of the resolution has been made—
(i) having regard to the number of members who consented to, or voted in favour of, the resolution, no such application may be made, or
(ii) the period within which such an application could be made has expired ; or
(b) where such an application has been made—
(i) the application has been withdrawn, or
(ii) an order has been made confirming the resolution and a copy of that order has been delivered to the Commission.

(3) The company shall make such changes—
(a) in its name ; and
(b) in its memorandum and articles, as are necessary in connection with its becoming a private company limited by shares or, as the case may be, by guarantee.

See also  Section 81 Companies and Allied Matters Act 2020

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