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Home » Nigeria CAMA 2020 » Section 90 Companies and Allied Matters Act 2020

Section 90 Companies and Allied Matters Act 2020

Section 90 CAMA 2020

Section 90 Companies and Allied Matters Act is about Acts of officers or agents. It is under Liability for Acts of the Company of Chapter 5 of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Acts of officers or agents

(1) Except as provided in section 89 of this Act, the acts of any officer or agent of a company shall not be deemed to be acts of the company, unless—
(a) the company, acting through its members in general meeting, board of directors, or managing director, shall have expressly or impliedly authorised such officer or agent to act in the matter ; or

(b) the company, acting as mentioned in paragraph (a), shall have represented the officer or agent as having its authority to act in the matter, in which event the company shall be civilly liable to any person who has entered into the transaction in reliance on such representation unless such person had actual knowledge that the officer or agent had no authority or unless having regard to his position with or relationship to the company, he ought to have known of such absence of authority.

(2) The authority of an officer or agent of the company may be conferred prior to any action by him or by subsequent ratification, and knowledge of such action by the officer or agent and acquiescence by all the members of the company or by the directors or by the managing director for the time being, shall be equivalent to ratification by the members in general meeting, board of directors, or managing director, as the case may be.

See also  Section 80 Companies and Allied Matters Act 2020

(3) Nothing in this section shall derogate from the vicarious liability of the company for the acts of its servants while acting within the scope of their employment.

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