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Section 694 Companies and Allied Matters Act (CAMA) 2020

Section 694 CAMA 2020

Section 694 Companies and Allied Matters Act is about Companies liquidation account defined. It is under Chapter 24 (Provisions applicable to every mode of winding-up) of the Act.

(1) There shall continue to be an account called the Companies Liquidation Account, kept on behalf of the Commission by the Accountant-General of the Federation, into which shall be paid all money received by theCommission in respect of proceedings under this Act in connection with the winding-up of companies.

(2) All payments out of money standing to the credit of the Commission in the Companies Liquidation Account shall be made by the Accountant-General in the prescribed manner.

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See also  Section 709 Companies and Allied Matters Act (CAMA) 2020

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