COMPANIES AND ALLIED MATTERS ACT, 2020

Section 646: Power to apply to Court to determine questions or exercise powers.

2020Section 646 of 870Federal Republic of Nigeria

(1) The liquidator or any contributory or creditor may apply to the Court to determine any question arising in the winding-up of a company, to exercise, as respects the enforcing of calls or any other matter, all or any of the powers which the Court might exercise if the company were being wound up by the Court.
(2) If the Court is satisfied that the determination of the question or therequired exercise of power is just and beneficial, it may give effect wholly or partially to the application on such terms and conditions as it deems fit, or make such other order as the case may require.
(3) A copy of an order made under this section staying the proceedingsin the winding-up, shall forthwith be forwarded by the company, or otherwise as may be prescribed, to the Commission, which shall make a minute of the order in its books relating to the company.

Cite this section

Section 646, COMPANIES AND ALLIED MATTERS ACT, 2020 (2020).

https://repo.podus.ai/laws/companies-and-allied-matters-act-2020/section/646/