ICANBusiness LawCompany Law under CAMA 2020: Incorporation2021

Under Section 20 of the Companies and Allied Matters Act (CAMA) 2020, which of the following individuals/entities is NOT disqualified from joining in the formation of a company?

AA person certified by a court of competent jurisdiction to be of unsound mind
BAn undischarged bankrupt
CA non-Nigerian citizen who complies with the provisions of any statute regulating foreign investmentsCORRECT
DAn individual under 18 years of age where no other subscriber is an adult
AI
Toaster Teacher
Why the answer is C, and why the others tempt you.
Under Section 20(2) of CAMA 2020, an alien or non-Nigerian citizen may participate in the formation of a company provided he complies with the provisions of any enactment regulating foreign participation in business. Options A, B, and D are disqualified under Section 20(1).
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