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VOL. 8, ISSUE 5 (2023)
A case for rethinking the prohibition of issue of shares at a discount under the companies and allied matters Act 2020
Authors
Babajide S Shoroye, Rufus Olu Olaoluwa
Abstract
The Nigerian Companies Act 2020 represents the
latest reform of the country’s company law. In the last two years since the
enactment legal scholars have continued to unpack its provisions and determine
its comparative significance in terms of scope, innovation, and strength,
including its retrogression and inherent weakness. One provision of the Act
which has not been examined is the prohibition of issue of shares at a discount
as provided in section 146. In this article, we interrogate the provision,
identify its rationale and functional basis, and determine its usefulness in
contemporary corporate and business practices.
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Pages:47-52
How to cite this article:
Babajide S Shoroye, Rufus Olu Olaoluwa "A case for rethinking the prohibition of issue of shares at a discount under the companies and allied matters Act 2020". International Journal of Academic Research and Development, Vol 8, Issue 5, 2023, Pages 47-52
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