Section 571 Companies and Allied Matters Act (CAMA) 2020

Section 571 CAMA 2020

Section 571 Companies and Allied Matters Act is about Circumstances in which companies may be wound up by Court. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act.

A company may be wound up by the court if—

(a) the company has by special resolution resolved that the company be wound up by the Court ;

(b) default is made in delivering the statutory report to the Commission or in holding the statutory meeting ;

(d) the company is unable to pay its debts ;

(e) the condition precedent to the operation of the company has ceased to exist ; or

(f ) the Court is of opinion that it is just and equitable that the company should be wound up

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Section 571 Companies and Allied Matters Act (CAMA) 2020

Section 571 CAMA 2020

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