The name of the Association is “African Securities Exchanges Association”. 2. The Registered Office of the Association will be situate in Kenya. 3. The objects for. 4 Jul The new Companies Act has been commenced. Government Printers, the Kenya Law Website – and the Office of Each form bears a reference to the Companies Act rather than the Cap LAWS OF KENYA COMPANIES ACT CHAPTER Revised Edition [ ] Published by the National Council for Law Reporting with the Authority of the.

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Public Companies are also excluded from the Small Companies Regime. Section 93 9 further provides that any amendment to the register of members is to be lodged with the Registrar within 14 days after making the amendment. Provided that no part of the capital of the company shall be expended in any such purchase.

Rights of holders of special classes of shares. If a company fails to meet the requirements of section with respect to recording and keeping minutes the company and each director in default commit an offence and are liable to a fine not exceeding Kshs. Directors Is there a minimum age for directors? Fraudulent preference Liabilities and rights of certain fraudulently preferred persons Effect companies act cap 486 of the laws of kenya floating charge Disclaimer of onerous property in case of company wound up.

Meetings and Proceedings Registration of memorandum and articles. The Companies Amendment Act No.

This amendment seeks to provide transparency by unveiling the identity of the real owners of the Company and companies act cap 486 of the laws of kenya to deter any fraudulent compsnies which could be undertaken by such persons.

The main object of the Act is to consolidate and reform the law relating to incorporation, registration, operation, management and regulation of companies and make other provisions relating to companies in Kenya. Reservation of name and prohibition of undesirable name 1 The registrar may, on eknya application, reserve a name pending registration of a company or a change of name by a company.

Application and reservation of name. Notification that receiver or manager appointed Power of court to fix remuneration on application of liquidator Provisions as to information where receiver or manager appointed Special provisions as to statement submitted to receiver Delivery to registrar of accounts of oenya and managers Enforcement of duty of receivers and managers to make returns, etc Construction of references to receivers and managers.


Power to order winding up subject to supervision Effect of petition for winding up subject to supervision Application of sections and to winding up subject to supervision Power of court to appoint or remove liquidators Effect of supervision order.

Service of documents Returns, etc. Chapter 9 Public offers of securities, prevention of market abuse, etc. Notice of increase of share capital. Qualifications of a secretary to a company Prohibition of certain persons being sole director or secretary Avoidance of acts done by person in dual capacity as director and secretary Validity of acts of directors Restrictions on appointment or advertisement of director Share qualifications of directors Appointment of directors to be voted on individually Removal of directors Minimum age for appointment of directors; and retirement of directors over age limit.

This is in line with companies act cap 486 of the laws of kenya similar amendment on clause 85 2 d of the Principal Act.

Key Highlights on the Amendments to the Companies Act, – Robson Harris

Provisions as to liability of officers and auditors. Adoption and application of table A. The remaining parts of the Act will be commenced by notice in the Kenya Gazette. The Dubai Multi Companies act cap 486 of the laws of kenya Centre. There are changes to every form that is submitted to the Registrar of Companies, including the introduction of some new ones.

The Companies Amendment Act introduces further provisions that if the Company does not comply with the direction within 14 days the Registrar shall publish a notice in the Gazette to strike the compaanies of the Company off the register and once the same has been struck off the Registrar shall publish another notice in the Gazette to that effect and the Company shall be deemed to have been dissolved.

Statement of amount of capital subscribed and amount paid up.

The above are the main amendments which have companies act cap 486 of the laws of kenya effected on the Companies Act, Fees payable for such applications shall be the fees payable under the old Act. Power of liquidator to accept shares, etc. Act companied Companies Act. Register of members Index of members Provisions as to entries in register sct relation to share warrants Inspection of register and index Consequences of failure to comply with requirements as register owing to agent s default Power to close register Power of court to rectify register Trusts not to be entered on register Register to be evidence.

Only companies are affected by enactment of the Companies Act Jurisdiction to wind up companies registered in Kenya.

This Act may be cited as the Accountants Act. However all public companies must have a secretary. The Companies Amendment Act provides that the register if also contain details of other directorships of a director if the director is a natural person.

Registration of memorandum and articles The memorandum and the articles, if any, shall be delivered to the registrar for registration.