Section 72 CAMA 2020
Section 72 Companies and Allied Matters Act is about Application for re-registration as a limited company. It is under Chapter 2 (Re-registration Of Companies) of PART B (Incorporation of Companies and Incidental Matters) of the Act.
Application for re-registration as a limited company
(1) An application for re-registration as a limited company shall contain a statement of the company’s proposed name on re-registration.
(2) The application shall be accompanied by—
(a) a copy of the resolution that the company should re-register as a private limited company ;
(b) if the company is to be limited by guarantee, a statement of guarantee ; and
(c) a copy of the company’s memorandum and articles as proposed to
(3) The statement of guarantee required to be delivered in the case of a company that is to be limited by guarantee shall state that each member undertakes that, if the company is wound up while he is a member, or within one year after he ceases to be a member, he will contribute to the assets of the company to such amount as may be required for—
(a) payment of the debts and liabilities of the company contracted before
he ceases to be a member ;
(b) payment of the costs, charges and expenses of winding-up ; and
(c) adjustment of the rights of the contributories among themselves, not
exceeding a specified amount.
(4) The statement of compliance required to be delivered together with the application is a statement that the requirements of this Part as to reregistration as a limited company have been complied with.
(5) The Commission may accept the statement of compliance as sufficient evidence that the company is entitled to be re-registered as a limited company.