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FG Approves Insolvency Regulations For 2022
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Insolvency regulations for 2022 has been approved the Federal Government.
- Mr Rasheed Mahe CAC’s Head, Media Unit in Abuja disclosed this in a statement
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EKO HOT BLOG reports that the Federal Government of Nigeria has approved the Insolvency Regulations (IR) 2022, which was notified by the Corporate Affairs Commission (CAC) through the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo.
The Commission made this announcement in a statement signed by Mr Rasheed Mahe, the CAC’s Head of Media Unit in Abuja, on Sunday.
The new regulations, according to the Commission, are governed by the Companies and Allied Act of 2020 (CAMA 2020).
The statement reads: “The Commission hereby informs the general public that in exercise of the powers conferred by section 867 of the CAMA, 2020, the Honourable Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo (CON) has approved the Insolvency Regulations (IR) 2022″
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The CAMA regulates insolvency actions such as Company Voluntary Arrangements, Administration of Companies, Receivership/Managership, Court Winding-up, Creditors’ Voluntary Winding-up, Arrangements and Compromise, Netting, and Dissolution of Incorporated Trustees, according to the Commission.
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