What do you think?! Let’s hear your thoughts.

Well, by Section 20 of CAMA 2020, some persons are restricted from joining in the formation of a company. These persons are:

1. Persons under the age of 18 years of age

2. Persons of unsound mind and have been found so by a court in Nigeria or elsewhere

3. An undischarged bankrupt

4. Persons that have already been disqualified under the Act from being a director

That’s not all, these persons may still be allowed to form the company if there are already two qualified persons in the company.

Also for corporate members, a corporate body in liquidation cannot join in forming the company.

Hope you learnt something.

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