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Companies and Allied Matters Act 2020 · Part B · Chapter 22

Section 620 Circumstances in which company may be wound up voluntarily

(1)
Any company may be wound up voluntarily—
(a)
when the period, if any, fixed for the duration of the company by the articles expires, or the event, if any, occurs, on occurrence of which the articles provided that the company is to be dissolved and the company in general meeting has passed a resolution requiring the company to be wound up voluntarily ;
(b)
if the company resolves by special resolution that the company be wound up.
(2)
References in this Act to a “resolution for voluntary winding-up” means a resolution passed under any of the paragraphs of this section.
Cite as: Companies and Allied Matters Act 2020, section 620

What this section means

From the guide: Voluntary winding up under CAMA 2020: members’ and creditors’ winding up

  • A company can be wound up voluntarily if its duration expires and the members resolve to wind up, or if it passes a special resolution (section 620).
  • Or it can pass a special resolution to wind up (section 620).

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.