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

Section 50Alteration of memorandum

(1)
The name of the company shall not be altered except with the consent of the Commission in accordance with section 30.
(2)
The business which the company is authorised to carry on or, if the company is not formed for the purpose of carrying on business, the objects for which it is established, may be altered or added to in accordance with the provisions of section 51.
(3)
Any restriction on the powers of the company may be altered in the same way as the business or objects of the company.
(4)
The share capital of the company may be altered in accordance with the provisions of sections 128-130, but not otherwise.
(5)
Subject to section 54, any other provision of the memorandum maybe altered in accordance with section 51, or as otherwise provided in this Act.
Cite as: Companies and Allied Matters Act 2020, section 50

What this section means

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

  • Section 50 then points each kind of change to its route: the name by section 30, business or objects and restrictions on powers by section 51, share capital by the share capital provisions, and any other provision by section 51 or as the Act otherwise provides.

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.