Choice Of Business Organisations And Formation Of Companies

Question 1

• S.18 of CAMA.

Answer 1

Any two or more persons may form and incorporate a company upon fulfilling the statutory requirements for the particular type of company.

Question 2

Section 44(1) of CAMA.

Answer 2

Generally, a company must not carry on any business or object not authorised by its memorandum of association.

Question 3

section 20(4) if CAMA

Answer 3

If there are non-Nigerian subscribers, applications must be made under the Nigerian Investment Promotion Commission Act Cap N117 LFN 2004

Question 4

CAMA 2020. (S.33)

Answer 4

CAMA 2020 now gives CAC the power to endorse a model article that every company is expected to adopt.

Question 5

Section 41(6) of CAMA.

Answer 5

The Certificate of Incorporation shall be prima facie evidence of compliance with the Act, that the association is a company authorised to be registered and is duly registered.