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

Section 461 Effect of moratorium on the appointment of administrator

(1)
If a moratorium for a company under this Part and any supportive schedule ends on a date when no voluntary arrangement is in effect in respect of the company, this section applies for the period of 12 months beginning with that date.
(2)
This section also applies for the period of 12 months beginning with the date on which a voluntary arrangement in respect of a company ends, where the arrangement—
(a)
was made during a moratorium for the company under this Part ; and
(b)
ends prematurely.
(3)
While this section applies, an administrator of the company shall not be appointed under section 450 of this Act.
Cite as: Companies and Allied Matters Act 2020, section 461

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.