A transfer of shares, not being a transfer made to or with the sanction of the liquidator, and any alteration in the status of the members of the company, made after the commencement of a voluntary winding-up, shall be void.
Companies and Allied Matters Act 2020 · Part B · Chapter 22
Section 624Avoidance of transfer, etc., after commencement of voluntary winding-up
Cite as: Companies and Allied Matters Act 2020, section 624
What this section means
From the guide: Voluntary winding up under CAMA 2020: members’ and creditors’ winding up
- A share transfer after commencement, other than one made to or with the liquidator’s sanction, and any alteration in members’ status, is void (section 624).
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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.