Section 851 CAMA 2020
Section 851 Companies and Allied Matters Act is about Establishment of Administrative Proceedings Committee. It is under Chapter 1 (Establishment of administrative proceedings committee) of the Act.
(1) The Commission shall establish an Administrative Proceedings Committee (in this Act referred to as “the Administrative Committee”)comprising—
(a) the Registrar-General who shall be the Chairman of the Administrative Committee ;
(b) five representatives from the operational departments of the Commission, not below the grade level of a director, one of whom shall be from the Compliance Department of the Commission ; and
(c) a representative of the Federal Ministry of Industry, Trade and Investment not below the grade level of a director.
(2) The Administrative Committee may co-opt persons, at any of its meetings, as observers, representatives of relevant associations, including associations of shareholders, registrars or trustees, as are considered necessary,and members so co- opted shall not count towards a quorum or have the right to vote in respect of any decision taken by the Administrative Committee.
(3) The Commission shall designate an officer of the Commission with at least 10 years post-call experience in the legal profession who shall be the secretary of the Administrative Committee.
(4) The Administrative Committee shall—
(a) provide the opportunity of being heard for persons alleged to have contravened the provisions of this Act or its regulations ;
(b) resolve disputes or grievances arising from the operations of this Actor its regulations ; and
(c) impose administrative penalties for contravention of the provisions of this Act or its regulations in the settlement of matters before it.
(5) The chairman shall preside at every meeting of the Administrative Committee and in his absence the members present at the meeting shall select one of their numbers to preside over the meeting.
(6) The quorum at a sitting of the Administrative Committee is four members present while the determination of issue shall be by simple majority of members present and where there is equality of votes, the chairman or the member presiding shall be entitled to a casting vote.
(7) Parties shall attend the sitting of the Administrative Committee inperson or be represented by a legal practitioner.
(8) Proceedings of the Administrative Committee shall be recorded onaudio or visual tape or such other electronic device.
(9) Decisions reached on any matter before the Administrative Committee shall be forwarded to the parties not later than 14 days after the confirmation by the Board.
(10) The sanctions that may be imposed by the Administrative Committee,include—
(a) imposition of administrative penalties ;
(b) suspension or revocation of registration; or
(c) recommendation for criminal prosecution if matters brought before it reveals any criminal act or conduct.
(11) Decisions of the Administrative Committee are subject to confirmation by the Board.
(12) Parties dissatisfied with decisions of the Administrative Committee may appeal to the Federal High Court.
(13) Subject to the provisions of this section, the Administrative Committee to regulate its proceedings.
