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Section 428 Companies and Allied Matters Act (CAMA) 2020

Section 428 CAMA 2020

Section 428 Companies and Allied Matters Act is about Restriction on declaration and payment of dividends. It is under Chapter 16 (Annual returns) of the Act.

A company shall not declare or pay dividend if there are reasonable grounds for believing that the company is or would be, after the payment,unable to pay its liabilities as they become due.

See also  Section 176 Companies and Allied Matters Act 2020

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