REGULATORY BODIES AND LAWS IN THE CORPORATE FIELD
:: PRINCIPAL LAWS, SUBSIDIARY LEGISLATIONS AND REGULATORY BODIES ON CORPORATE LAW PRACTICE.
:: FEATURES AND FUNCTIONS OF THE REGULATORY BODIES.
|S/N||LAW||REGULATORY BODY||EST SECTION||FUNCTIONS|
|1.||Companies and Allied Matters Act 1990.||Corporate Affairs Commission.||S 1 CAMA.||S 7 CAMA. To implement the CAMA which includes; Register, supervise and Investigate Companies and other forms of businesses.|
|2.||Investments and Securities Act 2007||Securities and Exchange Commission.||S 1 ISA.||S 13 ISA-SEC Regulates the Nigerian Capital Market, its stakeholders/players and Transactions conducted therein to ensure development and transparency.|
|3.||Nigerian Investment Promotion Commission Act 1995?||Nigerian Investment Promotion Commission||S 1 NIPCA||Promote Foreign Investment in Nigeria and grant fiscal concessions therewith. Note its Establishment of OSIC.|
|4.||Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.||CBN, Minister of Finance.||S 1 FE(MMP)A.|
|5.||National Office for Technology Acquisition and Promotion Act||National Office for Technology Acquisition and Promotion.||S 1 NOTAPA.||To invigilate the transfer of foreign technology to Nigeria.|
|6.||Industrial Inspectorate Act 2007||Industrial Inspectorate Division (Federal Ministry of Industry).||S 1 IIA 2007.|
|8.||Companies Income Tax (Amendment) Act 2007.||Federal Inland Revenue Service (FIRS)||S 1 FIRSEA||Generally administers Federal Taxes one of which is Companies Income Tax.|
|9.||Asset Management Corporation of Nigeria Act 2010.||Asset Management Corporation of Nigeria.||S 1 AMCONA||Resolve liquidity problems in the financial sector and disposal of bank assets.|
|10.||Federal High Court Act||Federal High Court.||S 1 FHCA, S 249 1999 Constitution.||Jurisdiction on Corporate Matters-Section 251, 1999 Constitution.|
|11.||Banks and Other Financial Institutions Act||Central Bank of Nigeria (CBN)||S 1 CBNA||Apex Regulator of Financial Institutions in Nigeria.|
|12.||NSE||Provides trading floor for sale and purchase of securities.|
|13.||National Council of Privatization||Determine policy on privatization and commercialisation which BPE implements.|
|14.||Nigerian Communications Commission Act||NCC|
|17.||Nigerian Copyright Commission.|
 You can add two functions. 1. To administer the act and 2. Advise the Public.
 Metamorphosed from Capital Issues Committee 1962-to SEC in 1978. Encapsulated in the promulgation of SEC Decree 1979-1999-2007.
 Market Operators, Special Savings Schemes, etc.
 Like Securities Exchanges, Mergers, Acquisitions and so on.
 The NIPC Act repealed the Industrial Development Coordinate Committee Act and Nigerian Enterprises Promotion Decree.
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