BL – Nov 2023 – L1 – SB – Q1c – Company Law

Discusses the statutory functions of the Corporate Affairs Commission under CAMA.

Question

The Companies and Allied Matters Act (CAMA) established the Corporate Affairs Commission and gave it specific functions.

Required:
State FOUR functions of the Corporate Affairs Commission. (8 Marks)

Answer

Administering the CAMA: This includes the registration, regulation, and supervision of companies, business names, and incorporated trustees, as well as striking off and winding up companies.
Maintaining a registry of companies: Establishing and maintaining a company’s registry in each state of the federation, suitably equipped to perform its functions.
Investigating company affairs: Conducting investigations into the affairs of companies where necessary, in the interest of shareholders, members, or the public.
Ensuring compliance: Ensuring compliance with the provisions of CAMA and other regulations for companies and incorporated trustees.