Section 863 CAMA 2020

Section 863 Companies and Allied Matters Act is about Penalty for carrying on business without registration. It is under Chapter 2 (Miscellaneous and supplemental) of the Act.

(1) A person or association of persons shall not carry on business in Nigeria as a company, limited liability partnership, limited partnership or under a business name without being registered under this Act.

(2) If an individual, corporation or association of persons required under this Act to be registered carries on business without registration or under a name registration of which has been refused or cancelled under this Act, the individual, corporation or every partner in the firm commits an offence and is liable on conviction to a fine prescribed in the Commission’s regulations from time to time, of N200.00 for every day during which the default continues,and the Court shall order a statement of the required particulars for the registration of the business to be furnished to the Commission for registration within such time as may be specified in the order.