Membership under CAMA 2020: sections 105 to 123
Chapter 6 covers who is a member, the register of members, members’ liability, and the disclosure of persons with significant control and substantial shareholders.
Chapter 6 of Part B has 19 sections. Every section is listed below with its title.
Guides in this chapter
- Members of a company and the register of members under CAMA 2020Sections 105 to 118 cover who a member is, who cannot be one, the register, inspection and what a member can be made to pay.ss. 105-118
- Persons with significant control and substantial shareholders under CAMA 2020Sections 119 to 123 require people with significant control, and substantial shareholders in public companies, to disclose their interests.ss. 119-123
Key rules in this chapter
- The register of members is updated within 28 days of a person joining or leaving (section 109).
- A person with significant control must tell the company within seven days (section 119).
- A substantial shareholder in a public company holds at least 5% of the unrestricted voting rights (section 120).
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Source: the Companies and Allied Matters Act 2020 as published in the Official Gazette.