CORPORATE: AN INFANT UNDER CAMA

PART A (Incorporation of company)

By virtue of Section 20 (1) (a) CAMA and Section 20(2) CAMA

General Rule: A person below the age of 18 years shall not join in the formation of the company.

Exception: If two other people not disqualified have subscribed to the memorandum.

Furthermore under PART A, on membership of the company, Section 80(2) CAMA provides that a person under the age of 18 shall not be counted for the purpose of determining the legal number of members of a company.

Under PART A, on DIRECTORSHIP, Section 257 CAMA, an INFANT under the age of 18 years shall be disqualified from being a director.

Also, under PART A, on Appointment as a Receiver or Manager, Section 387 (1)(a) disqualifies an INFANT from being appointed to act as Receiver or Manager of any property or undertaking of the company.

Under PART A, on Appointment of Liquidator, Section 509(1)(a) disqualifies an INFANT to be appointed or to act as liquidator of a company, whether  in a winding up by, or under the supervision of the court, or in voluntary winding up.

PART B (Registration of business name)

By virtue of Section 574(6), Section 579 (3) and Company Regulation 55

RULE: An infant can register a business name but subject to some condition;

Condition 1: In 574(6), his signature on the statement in the prescribed form ( this is called APPLICATION FOR REGISTRATION OF A BUSINESS NAME- FORM CAC/BN/1) shall be COUNTERSIGNED by a Magistrate, Legal Practitioner, or Police Officer of or above the rank of ASP

Condition 2: In Regulation 55, where a Magistrate, Legal Practitioner or Police officer of or above the rank of ASP counter-signs a minor’s signature, shall state;

o   Full name,

o   Address

o   Phone Number.

Lastly, if these procedures are not adhered to, it may be a ground for refusal of registration. Section 579 (3)

PART C (INCORPORATED TRUSTEE)

Rule: Only a legal person can be appointed as a trustee.

By virtue of Section 592(1) (a) an INFANT is not qualified to be appointed as a trustee.