ARTICLE · 02 MAY 2013

The December 2012 Twin Regulations

Perchstone & Graeys

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2012 came to an end with the passing of two regulations affecting both corporate and litigation lawyers and by extension, clients.

NigeriaCorporate/Commercial Law

Perchstone & Graeys

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2012 came to an end with the passing of two regulations affecting both corporate and litigation lawyers and by extension, clients. These regulations are the Companies Regulations 2012 (effective date November 1, 2012) and the High Court of Lagos State (Civil Procedure) Rules 2012 (effective date December 31, 2012).

Companies Regulation 2012

The Companies Regulation 2012 passed by the Corporate Affairs Commission (CAC; the principal Companies regulator in Nigeria) is one that every business man and corporate lawyer needs to keep an eye on. The regulation was passed in a bid to ease the company regulation process in Nigeria and enhance good corporate governance in areas either not elaborated on or provided for in the Companies and Allied Matters Act 1990 (CAMA) pending its next amendment.

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