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

Section 463 Notice of intention to appoint

(1)
Except where there is no secured creditor who has, or might have the right to appoint an administrator under section 452 of this Act or a receiver or any other person as envisaged under subsection (2), a person who proposes to make an appointment under section 469 of this Act shall give at least three working days’ written notice by post, personal delivery, hand delivered mail, or email to any person who is or may be entitled to appoint—
(a)
a receiver of the company ; and
(b)
an administrator of the company under section 450 of this Act.
(2)
A person who proposes to make an appointment under this section shall also give such notice as may be prescribed to such other persons as may be prescribed.
(3)
A notice under this section shall—
(a)
identify the proposed administrator ; and
(b)
be in the prescribed form.
Cite as: Companies and Allied Matters Act 2020, section 463

What this section means

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

  • A company or its directors may appoint an administrator out of court (section 459), after giving at least three working days’ written notice to anyone entitled to appoint a receiver or an administrator (section 463).

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.