If, in the case of any body corporate liable to be wound up under this Act, it appears to the Commission from a report made by an inspector under section 363 that it is expedient in the public interest that the body corporate should be wound up, the Commission may (unless the body corporate is already wound up by the Court) present a petition for it to be wound up if the Court considers it just and equitable to do so.
Companies and Allied Matters Act 2020 · Part B · Chapter 13
Section 366Power of the Commission to present winding-up petition
Cite as: Companies and Allied Matters Act 2020, section 366
What this section means
From the guide: Investigations and inspectors under CAMA 2020: when and how a company is investigated
- the Commission can petition for the company to be wound up if the court considers it just and equitable and it is expedient in the public interest (section 366).
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.