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Companies and Allied Matters Act 2020 · Part B · Chapter 18

Section 458 Invalid appointment and indemnity

(1)
This section applies where—
(a)
a person purports to appoint an administrator under section 452 of this Act ; and
(b)
the appointment is discovered to be invalid.
(2)
The Court may order the person who purported to make the appointment to indemnify the person appointed against liability which arises solely by reason of the invalidity of the appointment.
Cite as: Companies and Allied Matters Act 2020, section 458

What this section means

From the guide: What is administration of a company under CAMA 2020?

Administration puts an administrator in charge of a struggling company. Here is how it starts, what it freezes, and the deadlines under sections 443 to 549.

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.