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Companies and Allied Matters Act 2020 · Part D

Section 796 Partners in a limited partnership

An individual or body corporate may be a partner in a limited partnership: Provided that an individual shall not become a partner of a limited partnership, if he is—
(a)
of unsound mind and has been so found by a court in Nigeria or elsewhere ; or
(b)
an undischarged bankrupt.
Cite as: Companies and Allied Matters Act 2020, section 796

What this section means

From the Part overview: CAMA 2020 Part D: limited partnerships (sections 795 to 810)

  • An individual or a body corporate can be a partner, but not an individual of unsound mind (so found by a court) or an undischarged bankrupt (section 796).

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.