ASSET MANAGEMENT CORPORATION OF NIGERIA (AMENDMENT NO.2) ACT, 2019

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ASSET MANAGEMENT CORPORATION OF NIGERIA (AMENDMENT NO. 2) ACT, 2019

LAWS OF THE FEDERATION OF NIGERIA

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EXPLANATORY MEMORANDUM

This Act amends the Asset Management Corporation of Nigeria Act, No. 4, 2010 to give the Corporation additional functions and increase the members of the Board.

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ARRANGEMENT OF SECTIONS

1.       Amendment of the Principal Act.

2.       Amendment of section 6.

3.       Amendment of section 10.

4.       Amendment of section 19.

5.       Amendment of section 31.

6.       Substitution for section 33.

7.       Insertion of a new section”33A”.

8.       Substitution for section 34.

9.       Substitution for section 35,

10.     Amendment of section 39.

11.     Amendment of section 43.

12.     Amendment of section 45.

13.     Substitution for section 47.

14.     Substitution for section 48:

15.     Substitution for section 49,

16.     Substitution for section 50.

17.     Insertion of new sections “50A” – “50B”,

18.     Substitution for section 51.

19.     Substitution for section 52.

20.     Substitution for section 53,

21.     Substitution for section 55.

22.     Amendment of section 60,

23.     Amendment of section 61.

24.     Citation

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ASSET MANAGEMENT CORPORATION OF NIGERIA (AMENDMENT NO.2) ACT, 2019

An Act to amend the Asset Management Corporation of Nigeria Act, No. 4, 2010 to give the Corporation additional functions and increase the members of the Board; and for related matters.

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[Commencement] [29th Day of July, 2019]

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ENACTED by the National Assembly of the Federal Republic of Nigeria:

Amendment of the Principal Act.

1.       The Asset Management Corporation of Nigeria, Act, No. 4, 2010 (in this Act referred to as the “Principal Act”) is amended as set out in this Act.

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