Section 233 Companies and Allied Matters Act (CAMA) 2020
Section 233 CAMA 2020 Remedies available to debenture holders (1) At any time after a debenture holder or a class of debenture holders, becomes entitled to realise his or their security, a receiver of any asset subject to a mortgage, charge or security in favour of the class of debenture holders or the trustee of […]
Section 232 Companies and Allied Matters Act (CAMA) 2020
Section 232 CAMA 2020 Realisation of debenture holder’s security (1) A debenture holder is entitled to realise any security vested in him or in any other person for his benefit if—(a) the company fails to pay any instalment of interest, or the whole, part of the principal or any premium, owing under the debenture or […]
Section 231 Companies and Allied Matters Act (CAMA) 2020
Section 231 CAMA 2020 Registration of appointment order, etc. (1) If any person obtains an order for the appointment of a receiver or manager of the property of a company, or appoints such a receiver or manager under any power contained in any instrument, he shall, within seven days from the date of the order […]
Section 230 Companies and Allied Matters Act (CAMA) 2020
Section 230 CAMA 2020 Rectification of register The court, on being satisfied that—(a) the omission to register a charge within the time required by this Act or that the omission or misstatement of any particular with respect to any such charge or in a memorandum of satisfaction was—(i) accidental, or due to inadvertence or to […]
Section 229 Companies and Allied Matters Act (CAMA) 2020
Section 229 CAMA 2020 Entries of satisfaction of charges If the Commission is satisfied with respect to any registered charge that—(a) the debt for which the charge was given has been paid or satisfied in whole or in part ; or (b) part of the property or undertaking charged has been released from the charge […]
Section 228 Companies and Allied Matters Act (CAMA) 2020
Section 228 CAMA 2020 Endorsement of certificate of registration on debentures (1) The company shall cause a copy of every certificate of registration given under section 223 to be endorsed on every debenture or certificate of debenture stock which is issued by the company and the payment of which is secured by the charge so […]
Section 227 Companies and Allied Matters Act (CAMA) 2020
Section 227 CAMA 2020 Charges to secure fluctuating amounts Where a charge, particulars of which require registration under section 222, is expressed to secure all sums due or to become due or some other uncertain or fluctuating amount, the particulars required under section 222 (9) shall state the maximum sum deemed to be secured by […]
Section 226 Companies and Allied Matters Act (CAMA) 2020
Section 226 CAMA 2020 Existing charges (1) Where, at the date of commencement of this Act, a company has property on which there is a charge, particulars of which would require registration if it had been created by the company after the date of such commencement, then, unless the charge has been discharged or the […]
Section 225 Companies and Allied Matters Act (CAMA) 2020
Section 225 CAMA 2020 Duty of company acquiring property to register subsisting charges (1) Where a company acquires any property which is subject to a charge of any such kind as would, if it has been created by the company after the acquisition of the property, have been required to be registered under this Part, […]
Section 224 Companies and Allied Matters Act (CAMA) 2020
Section 224 CAMA 2020 Duty of company to register charges (1) It is the duty of a company to send to the Commission for registration, the particulars of every charge created by the company and of the issues of debentures of a series requiring registration under section 222, but registration of any such charge may […]