(1)
A company may, where so authorised by its articles, issue classes of shares.
(2)
Shares shall not be treated as being of the same class unless they rank equally for all purposes.
Companies and Allied Matters Act 2020 · Part B · Chapter 8
Section 143Issue of classes of shares
Cite as: Companies and Allied Matters Act 2020, section 143
What this section means
From the guide: Issuing and allotting shares under CAMA 2020: pre-emption, premium and discount
- If the articles allow, shares can be issued in classes, and shares are of the same class only if they rank equally for all purposes (section 143).
Read the whole subject
Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.