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Companies and Allied Matters Act 2020 · Part B · Chapter 8

Section 163Power to pay different amounts on shares

Where it is authorised by its articles, a company may—
(a)
make arrangements on the issue of shares for a difference between the shareholders in the amounts and times of payment of calls on their shares ;
(b)
accept from any member the whole or a part of the amount remaining unpaid on any shares held by him, although no part of that amount has been called up ; or
(c)
pay dividends in proportion to the amount paid up on each share where a larger amount is paid up on some shares than on others.
Cite as: Companies and Allied Matters Act 2020, section 163

What this section means

From the guide: Returns of allotment, calls and paying for shares under CAMA 2020

  • Where the articles allow, a company can also charge different members different amounts or times for calls, accept payment in advance of calls, and pay dividends in proportion to the amount paid up (section 163).

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.