AMENDMENT TO COMPANIES REGULATION 2012

Pursuant to the powers vested in me under sections 16, 585 and 609 of the Companies and Allied Matters Act and other powers enabling me in that behalf, I hereby approve amendments to the Companies Regulation 2012 as follows –

1. REGULATION 3 shall now read as follows –

Hours   of   Transaction    of   Business    and   Service   Delivery Timelines

3 [a]         The Commission shall be open to the public for business from 9am to 7pm, Monday to Friday in the Head Office and such   other   offices   that   the   Commission   may designate from time to time.

3 [b]         The Commission shall deliver services to customers within a period not exceeding the following:-

i. Decisions on request for name reservation – 12 hours from submission of request.

ii. Registration  of   Companies,    Business   Names   and Incorporated Trustees – 24 hours from submission of duly completed documents.

2.      REGULATION 11  shall now read as follows –

Delivery of Application to the Commission

11  [a]   An  application  for new  registration  may  be delivered  to the Commission    in   hard   copies   in   designated    location   or through electronic  means by any of the following  persons –

i. A Legal    Practitioner, Chartered Accountant or Chartered Secretary duly accredited by the Commission as an agent;

ii. A First  Director or Subscriber to  the  Memorandum   of Association   in respect  of  new  registration  under  Part A of CAMA;

iii. A Proprietor or Partner in respect of application under Part B of CAMA;

iv. A Trustee in  respect  of  new  registration   under  Part  C of CAMA:

v. A duly appointed Secretary in respect of post-incorporation application under Parts A and C of CAMA.

11  [b]   Where   application   for   new   registration   under   Part  A  is presented  by any of the persons mentioned  in Regulation  11 [a] [ii] above,   the Statutory  Declaration  of Compliance   shall be deposed  to by a Legal  Practitioner  in the  Service  of the Commission  and the  presenter  shall  pay the  sum  of  N500 only to the Commission  as  cost of notarization.

11 [c] Where  an application   is  delivered  to  the  Commission   by electronic means,     the   Commission    shall   process    the application based on the duly  completed  electronic  copies  of documents submitted  by the Customer.

11  [d]  Customers   would   be  required   to  deliver   originals   of  the application   documents  to the Commission  upon completion of the registration  process.

Given under my hand this 5th day of  April  2017

Dr. Okechukwu  E.  Enelamah

Honourable  Minister

Industry, Trade and Investment

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