Section 236 Companies and Allied Matters Act (CAMA) 2020
Section 236 CAMA 2020 Non-compliance and penalty Without prejudice to the provisions of section 567 of this Act, if a company fails to comply with the requirements of section 235 of this Act, the company and any officer in default commits an offence and are liable to a fine for everyday during which the default […]
Section 235 Companies and Allied Matters Act (CAMA) 2020
Section 235 CAMA 2020 Statutory Meeting (1) Every public company shall, within a period of six months from the date of its incorporation, hold a general meeting of the members of the company (in this Act referred to as “the statutory meeting”). (2) The directors shall, at least 21 days before the day on which […]
Section 234 Companies and Allied Matters Act (CAMA) 2020
Section 234 CAMA 2020 Application of certain sections Subject to the provisions of this Part of this Act and unless the context otherwise admits, the provisions of sections 171, 172, 175, 177, 180 and 181 of this Act relating to share certificates and transfer of shares shall apply in respect of shares as if “debentures” […]
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 […]