This is the apex of the regulatory bodies for companies in Nigeria, CAC was established under Section 1 of the CAMA as a body with full legal capacity like incorporated companies. Thus, it has perpetual succession and a common seal, capable of suing and being sued in its corporate name, of acquiring, holding or disposing of any property, movable or immovable, for the purpose of carrying out its functions.
Functions of CAC
The functions of the Commission as set out in Section 8 of the Companies and Allied Matters Act, includes the following:
- To regulate and supervise the formation, incorporation and winding up of companies.
- To regulate, register and wind-up business names and partnerships
- To regulate, incorporate and wind-up incorporated Trustees/Associations.
- To maintain -company’s registry and offices in all the States of the Federation
- To arrange and conduct investigation into the affairs of any company where the interest of the shareholders and public so demands
- To perform such other functions as specified in any Act or Law e.t.c.