Section 50 CAMA 2020

Section 50 Companies and Allied Matters Act is about Alteration of memorandum. It is under Chapter 1 (Capacity and Powers of Companies) of PART B (INCORPORATION OF COMPANIES AND INCIDENTAL MATTERS) of the Act.

Alteration of memorandum

(1) The name of the company shall not be altered except with the consent of the Commission in accordance with section 30.

(2) The business which the company is authorised to carry on or, if the company is not formed for the purpose of carrying on business, the objects for which it is established, may be altered or added to in accordance with the provisions of section 51.

(3) Any restriction on the powers of the company may be altered in the same way as the business or objects of the company.

(4) The share capital of the company may be altered in accordance with the provisions of sections 128-130, but not otherwise.

(5) Subject to section 54, any other provision of the memorandum maybe altered in accordance with section 51, or as otherwise provided in this Act.