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Companies and Allied Matters Act 2020 · Part B · Chapter 13

Section 359 Inspectors’ powers during investigation

(1)
If an Inspector appointed, under section 357 or 358, to investigate the affairs of a company thinks it necessary for the purposes of his investigation to investigate the affairs of another body corporate which is or at any time been the company’s subsidiary or holding company, or a subsidiary of its holding company or a holding company of its subsidiary, he shall report on the affairs of the other body corporate so far as he thinks that the results of his investigation of its affairs are relevant to the investigation of the affairs of the company first mentioned above.
(2)
An inspector appointed under either section 357 or 358 may at any time in the course of his investigation, without the necessity of making an interim report, inform the Commission of matters coming to his knowledge as a result of the investigation tending to show that an offence has been committed.
Cite as: Companies and Allied Matters Act 2020, section 359

What this section means

From the guide: Investigations and inspectors under CAMA 2020: when and how a company is investigated

  • Investigate the affairs of any subsidiary, holding company or sister company so far as relevant, and tell the Commission straight away of anything showing an offence (section 359).

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.