A company may borrow money for the purpose of its business or objects and may mortgage or charge its undertaking, property and uncalled capital, or any part thereof, and issue debentures, debenture stock and other securities whether outright or as security for any debt, liability or obligation of the company or of any third party.
Companies and Allied Matters Act 2020 · Part B · Chapter 9
Section 191 Power to borrow money, to charge property and to issue debentures
Cite as: Companies and Allied Matters Act 2020, section 191
What this section means
From the guide: Debentures, floating charges and debenture trust deeds under CAMA 2020
- A company can borrow, charge its property and issue debentures (section 191).
- A company may borrow for its business or objects, mortgage or charge its undertaking, property and uncalled capital, and issue debentures, debenture stock and other securities, outright or as security for any debt of the company or a third party (section 191).
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.