Home » Nigeria » Nigeria CAMA 2020 » Section 632 Companies and Allied Matters Act (CAMA) 2020

Section 632 Companies and Allied Matters Act (CAMA) 2020

Section 632 CAMA 2020

Section 632 Companies and Allied Matters Act is about Alternative provisions as to annual and final meetings in insolvency cases. It is under Chapter 22 (Voluntary winding-up resolutions for and commencement of voluntary winding-up) of the Act.

Where section 629 of this Act has effect, sections 640 and 641 shall apply to the winding-up to the exclusion of the two last foregoing sections, as if the winding-up were a creditors’ voluntary winding-up and not a members’ voluntary winding-up :

Provided that the liquidator shall not be required to summon a meeting of creditors under section 640 of this Act at the end of the first year from the commencement of the winding-up, unless the meeting held under section 629 of this Act is held more than three months before the end of that year.

See also  Section 247 Companies and Allied Matters Act (CAMA) 2020

More Posts

Facebook
Twitter
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

LawGlobal Hub is your innovative global resource of law and more. We ensure easy accessibility to the laws of countries around the world, among others