Section 70 CAMA 2020
Section 70 Companies and Allied Matters Act is about Issue of certificate of incorporation on re-registration as an unlimited company. It is under Chapter 2 (Re-registration Of Companies) of PART B (Incorporation of Companies and Incidental Matters) of the Act.
Issue of certificate of incorporation on re-registration as an unlimited company
(1) If, on an application for re-registration of a private limited company as an unlimited company the Commission is satisfied that the company, is entitled to be so re-registered, the company shall be re-registered accordingly.
(2) The Commission shall issue a certificate of incorporation altered to meet the circumstance.
(3) The certificate shall state that it is issued on re-registration and the date on which it is issued.
(4) Upon the issue of the certificate—
(a) the company by virtue of the issue of the certificate becomes an unlimited company ; and
(b) the changes in the company’s name, memorandum and articles take effect.
(5) The certificate is conclusive evidence that the requirements of this Act as to re- registration have been complied with.