Receivers and managers under CAMA 2020: sections 550 to 563
Chapter 19 covers the appointment, duties and accounts of receivers and managers.
Chapter 19 of Part B has 14 sections. Every section is listed below with its title.
Guides in this chapter
Key rules in this chapter
- A receiver must notify the Commission within 14 days of appointment (section 555).
- A receiver is personally liable on his contracts, with a right of indemnity (section 557).
- A director or auditor of the company cannot be a receiver or manager (section 550).
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Source: the Companies and Allied Matters Act 2020 as published in the Official Gazette.