The Corporate Affairs Commission (CAC), further to the powers conferred on it in section 867 of the Companies and Allied Matters Act (CAMA) 2020 has made the Insolvency Regulations 2022 (the Regulation). The Regulation shall apply to all insolvency proceedings under the CAMA, and these proceedings includes receiverships, company voluntary arrangements, administrations, administration, winding up, arrangement and compromise, winding up and dissolution of incorporates trustees.
The CAC has stated that the Regulation shall not apply to rules of court relating to insolvency applications. The Regulation which took effect on April 25 2022 has also repealed clause 24 of the Company Regulations 2021.
Click here to access the Insolvency Regulations.
For further enquiries on the Insolvency Regulations or any other insolvency information, please contact us on contact@compleolegal.com or +234 802 360 4638.
