Home » Nigeria » Nigeria CAMA 2020 » Section 85 Companies and Allied Matters Act 2020

Section 85 Companies and Allied Matters Act 2020

Section 85 CAMA 2020

Section 85 Companies and Allied Matters Act is about Persons promoting a company. It is under Chapter 4 (Promoters) of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Persons promoting a company

Any person who undertakes to take part in forming a company with reference to a given project and set it going and who takes the necessary steps to accomplish that purpose, or who, with regard to a proposed or newly formed company, undertakes a part in raising capital for it, is deemed a promoter of the company : Provided that a person acting in a professional capacity for persons engaged in procuring the formation of the company shall not be deemed to be a promoter.

See also  Section 287 Companies and Allied Matters Act (CAMA) 2020

More Posts

Facebook
Twitter
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

LawGlobal Hub is your innovative global resource of law and more. We ensure easy accessibility to the laws of countries around the world, among others