The administrator of a company shall, on his appointment take custody or control of all the property to which he thinks the company is entitled.
Companies and Allied Matters Act 2020 · Part B · Chapter 18
Section 504 Custody and control of property
Cite as: Companies and Allied Matters Act 2020, section 504
What this section means
From the guide: What is administration of a company under CAMA 2020?
- The administrator may do anything necessary or expedient to manage the company’s affairs, business and property (section 496), takes custody or control of its property (section 504), and acts as the company’s agent (section 506).
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.