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

Section 471Effect of administration order on appointment

Where, before the requirements of section 464 of this Act are satisfied, the company enters administration by virtue of an administration order or an appointment under section 450 of this Act—
(a)
the appointment under section 459 of this Act shall not take effect ; and
(b)
section 467 of this Act shall not apply.
Cite as: Companies and Allied Matters Act 2020, section 471

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.