G.O. SODIPO AND CO.
NEWSLETTER
October, 2020 Edition
INTRODUCTION:
The Companies and Allied Matters Act 2020 which repealed the 1990 Act has made it optional for the associations registered under the Act to have and use a common seal. There are certain documents that are however required by law to be executed under seal. Has the CAMA excluded incorporated trustees from the categories of persons that must execute some documents under seal?
In this review, I will critically analyze the common seal provisions of the Act as they relate to incorporated trustees and the general rule on use of seal, and submit that the general rule on use of seal still applies to incorporated trustees notwithstanding the provisions of the Act.