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Companies and Allied Matters Act 2020 · Part B · Chapter 1

Section 33 Power of Minister to prescribe model articles

(1)
The Minister may by regulations prescribe model articles of association for companies.
(2)
Different model articles may be prescribed for different descriptions of companies.
(3)
A company may adopt all or any of the provisions of model articles.
(4)
Any amendment of model articles by regulations does not affect a company registered before the amendment takes effect.
(5)
In this section, “amendment” includes addition, alteration or repeal.
Cite as: Companies and Allied Matters Act 2020, section 33

What this section means

From the guide: Articles of association, model articles and company objects under CAMA 2020

  • If it does not register articles, or does not exclude them, the Commission’s model articles apply (sections 33 and 34).
  • A company can adopt all or any of them, and later amendments do not affect companies already registered (section 33).

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.