Section 1 CAMA 2020

Section 1 Companies and Allied Matters Act, 2020, is about Establishment of the Corporate Affairs Commission. It is under PART A (CORPORATE AFFAIRS COMMISSION) of the Act.

Establishment of the Corporate Affairs Commission

(1) There is established the Corporate Affairs Commission (in this Act referred to as “the Commission”).

(2) The Commission—
(a) is a body corporate with perpetual succession and a common seal ;
(b) may sue and be sued in its corporate name ; and
(c) may acquire, hold or dispose of any property, movable or immovable, for the purpose of performing its functions.

(3) The headquarter of the Commission shall be in the Federal Capital Territory, Abuja, and there shall be established an office of the Commission in each State of the Federation.

Section 2 CAMA 2020 – Establishment of Governing Board of the Commission