Section 151 CAMA 2020
Section 151 Companies and Allied Matters Act is about Allotment as acceptance of contract. It is under Allotment of Shares of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act.
Allotment as acceptance of contract
An allotment of shares made and notified to an applicant in accordance with section 150 is an acceptance by the company of the offer by the applicant to purchase its shares and the contract takes effect on the date on which the allotment is made by the company.
