THE CORPORATE AFFAIRS COMMISSION EXTENDS DEADLINE FOR COMPLIANCE WITH THE REQUIREMENT OF ISSUED SHARE CAPITAL UNDER CAMA 2020

The Corporate Affairs Commission on Friday, 16th April 2021 issued a circular to all companies, their customers and the general public, on the requirement of issued share capital under the Companies and Allied Matters Act, 2020 (the “CAMA”). The CAMA made significant changes to the requirement of share capital under the Companies and Allied Matters Act 1990, (“the repealed Act”) and provides for a “minimum issued share capital”, thereby abrogating the concept of “authorized share capital”.

For more details, click download attachment