Section 77 CAMA 2020
Section 77 Companies and Allied Matters Act is about Issue of certificate of incorporation on re-registration of a public company 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 of a public company as an unlimited company
(1) If, on an application for re-registration of a public 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 circumstances of the case.
(3) The certificate shall state that it is issued on re-registration and the date on which it is so issued.
(4) Upon the issue of the certificate the —
(a) company, by virtue of the issue of the certificate, becomes an unlimited company ; and
(b) changes in the company’s name, memorandum and articles take effect.
(5) The certificate is prima facie evidence that the requirements of this Act as to re- registration have been complied with.