Section 297 CAMA 2020
Section 297 Companies and Allied Matters Act is about Payment by company for loss of office to be approved. It is under Chapter 11 (Directors) of the Act.
A company shall not make to any director of the company any payment by way of compensation for loss of office, or as consideration for orin connection with his retirement from office, unless particulars with respect to the proposed payment and the amount have been disclosed to members of the company and the proposal is approved by the company.
