What kind of businesses or company names require special consent?

What kind of businesses or company names require special consent?

June 06, 2019

Section 30 of the companies and Allied matters Act cap C20 Laws of the Federation of Nigeria 2004 (CAMA) clearly states the names that require the consent of the Corporate Affairs Commission (CAC) before they can be registered and they are Names  which:

(a)includes the word “Federal”, “National”, “Regional”, “State”, “Government”, or any other word which in the  opinion of the Commission suggests or is calculated to suggest that it enjoys the patronage of the Government of  the Federation or the Government of a State in Nigeria, as the case may be, or any Ministry or Department of  Government; or

(b) contains the word “Municipal” or “Chartered” or in the opinion of the Commission suggests, or is calculated to  suggest, connection with any municipality or other local authority; or

(c) Contains the word “Co‐operative” or the words “Building Society”; or

(d) Contains the word “Group” or “Holding”.

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer.This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • What’s the difference between a business name and an LLC?

    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
  • Why is mutual assent important in a contract?

    This is one of the key elements of a contract because is shows the meeting of the minds of both parties
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.
  • Can an industrial design be sold?

    An industrial design is a company asset and the right to sell is in the hands of the registered owner.
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.
  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
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