Change In Allotment Of Shares
NGN 25,000.0
5 days
Corporate Returns
Description
Information about the compliance service
Under Nigerian law and regulations, companies have the authority to allot shares and can delegate this authority to their directors subject to any conditions or directions that may be imposed by the company's articles of association or from time to time by the company in a general meeting.
Requirements
Info and documents needed for this service
Change in allotment of shares
- Company details.
- Date of resolution.
- Date of shares allotment.
- Amount of shares allotted.
- Statement of issued share capital.
- Particulars of allotment.
Process
Steps involved in this compliance service
- Prepare a special resolution signed by at least two directors.
- File new forms.
- Submit evidence of increase in share capital
- Pay fees.
FAQs
Frequently asked questions about this service
- Are there penalties for irregularities in allotment of shares?
In the event that a company fails to comply with the registration formalities following an allotment, the irregularities may be fixed upon payment of a nominal penalty fees of ₦5,000 to the CAC for late filing.
2. Does non-registration of a company's return of allotment invalidate the allotment of shares?
No, a failure to register the return of allotment within the one-month deadline only results in a ₦5,000 penalty fee to the CAC for late filing, and does not invalidate the share allotment itself.
2. Does non-registration of a company's return of allotment invalidate the allotment of shares?
No, a failure to register the return of allotment within the one-month deadline only results in a ₦5,000 penalty fee to the CAC for late filing, and does not invalidate the share allotment itself.