Section 45 Nigeria Startup Act

Section 45 Nigeria Startup Act 2022 is about Power to make regulations or guidelines. It is under Part XI (Miscellaneous Provisions) of the Act.

(1) The Council may with the approval of the President make rules, regulations or guidelines with respect to the exercise of any of the duties, functions or powers under this Act and generally for the purpose of giving effect to this Act and in particular —
(a) prescribe forms and other information required under this Act ;
(b) prescribe the procedure to obtain any information required under this Act ;
(c) prescribe fees payable under this Act ;
(d) for registration, de-registration and re-registration of a startup ; and
(e) for the transition of a startup to innovative small and medium scale enterprise or a scale up.

(2) The contravention of any rule, regulations or guidelines issued under any of the provisions of this Act shall constitute an offence and shall be punishable as prescribed in the particular rules, regulations or guidelines.