Annual returns and dividends under CAMA 2020: sections 417 to 433
Chapter 16 covers the annual return a company files, and dividends and distributable profits.
Chapter 16 of Part B has 17 sections. Every section is listed below with its title.
Guides in this chapter
- Dividends under CAMA 2020: declaring, distributable profits and unclaimed dividendsSections 426 to 433 cover who declares a dividend, what profits it can come from, unclaimed dividends and capitalising reserves.ss. 426-433
- When are annual returns due under CAMA 2020, and what is the penalty for late filing?Sections 417 to 425 set the annual return deadline, contents, attachments and penalties. Here is each in plain English.ss. 417-425
Key rules in this chapter
- An annual return is due within 42 days after the annual general meeting (section 421).
- A company that files no annual return for 10 consecutive years can be struck off (sections 425(3) and 692(3)).
- Dividends can be paid only out of distributable profits (section 427).
Previous: Chapter 15: AuditNext: Chapter 17: Company voluntary arrangements
Source: the Companies and Allied Matters Act 2020 as published in the Official Gazette.