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Companies and Allied Matters Act 2020 · Part B · Chapter 1

Section 49 Restriction on alteration of memorandum

(1)
A company may not alter the conditions contained in its memorandum except in the cases and in the manner and to the extent for which express provision is made in this Act.
(2)
Only those provisions which are required by section 27 or by any other specific provision contained in this Act, to be stated in the memorandum of the company concerned, are deemed to be conditions contained in its memorandum.
Cite as: Companies and Allied Matters Act 2020, section 49

What this section means

From the guide: How to alter a company’s memorandum and articles under CAMA 2020

  • A company can alter its memorandum only as the Act expressly allows (section 49(1)).
  • Only the provisions that section 27 or another specific provision requires to be in the memorandum are conditions of it (section 49(2)).

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.