Court of Appeal rules on challenge to Companies and Allied Matters Act provisions

The Court of Appeal delivered a unanimous judgment holding that the failure of the appellant to serve a three-month pre-action notice on the National Assembly did not render his fundamental rights case against the Companies and Allied Matters Act (CAMA) 2020 incompetent. The appellate court found that the pre-action notice requirement is a subsidiary requirement that cannot impede the right of immediate constitutional access.

The ruling impacts the legal standing of CAMA provisions and the regulatory authority of the Corporate Affairs Commission. The court determined that certain legislative requirements are void under the Constitution, affecting how regulatory challenges are processed.