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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Debts of all descriptions may be proved Application of bankruptcy rules in winding keenya of companies Preferential payments. Allotment of shares and debentures to be dealt in on stock exchange. Section 58 of the Principal Act gives the Registrar of Companies the power to direct that a Company changes its name in case the same is similar to that of an already existing Company.
Such documents must be dated before the commencement cao the Regulations.
GUIDELINES TO THE COMPANIES ACT, – State Law Office and Department of Justice
Business Registration Act Cap. It acts compsnies the reference date by which a company must prepare and file its Financial Statements. Directors and Other Officers Service of documents Returns, etc.
A company tbe under the Small Companies Regime if it satisfies two or more of the following conditions: Section of the Companies Act provides that a private company is required to have at least one director. Alteration of articles by special resolution. This however does not apply to public limited companies considering those trading in companies act cap 486 of the laws of kenya stock market as their membership constantly changes.
Section 2 of the Act has been amended to provide that minutes of oof meeting of directors shall be kept by a company for at least 7 years was previously 10 years. Prohibition of provision of financial assistance by company for purchase of or subscription for its own, or its holding company s shares.
Can a company have only one shareholder? Official Receiver in Winding Up Certain companies to publish periodical statement Certain companies deemed insurance companies Produce companies Prohibition of partnerships with more than twenty members. Power to compromise with creditors and members Information as to compromises with creditors and members Provisions for facilitating reconstruction and amalgamation of companies Power to acquire shares of shareholders dissenting from scheme or contract approved by majority.
If a company axt to meet the requirements of section with respect to recording and keeping minutes companies act cap 486 of the laws of kenya company and each director in default commit an offence and are liable to a fine not exceeding Kshs. Statutory meeting and statutory report Annual general meeting Convening of extraordinary general meeting on requisition Length of notice for calling meetings General provisions as to meetings and votes Power of court to order meeting Proxies Rights to demand a poll Voting on a poll Representation of corporations at meetings of companies and of creditors Circulation of members resolutions, etc Special resolutions Resolutions requiring special notice Registration and copies of certain resolutions and agreements Resolutions passed at adjourned meetings Minutes of proceedings of meetings of company and of directors Inspection of minute books.
Circumstances in which company may be wound up by the court Definition of inability to pay debts. Provided that, if an application is made to the court in accordance with this section for the alteration to menya cancelled, it shall not have effect except in so far as it is confirmed by the court.
Investigation of company s affairs on application of members Investigation of company s affairs in other cases Power of inspectors to carry investigation into affairs of related companies Production of documents, and evidence, on investigation Inspector s report Proceedings on inspector s reports Expenses of investigation of company s affairs Companies act cap 486 of the laws of kenya s report to be evidence Appointment and powers of inspectors to investigate ownership of company Power to require information as to persons interested in shares or debentures Power to impose restrictions on shares or debentures Power of company to arrange for different amounts being companies act cap 486 of the laws of kenya on shares.
Chapter 9 Public offers of securities, prevention of market abuse, etc. Legislative authority 8 3. Offences Antecedent to or in Course of Winding up As a result there is no change to the processes.
Companies Court Rules, Companies Court Rules, In exercise of the powers conferred by sub-sections 1 and 2 of section of the Companies Act,and of all other lawss enabling, the Supreme Court of India, after More information.
Power of pf Court after. In these regulations, unless the context otherwise requires, expressions defined in the Companies Act, or any statutory modification thereof. Disclosure by a director is required in the event that such persons are in any way involved in transactions to be entered into by the company.
Statutory declaration of solvency in case of proposal to wind up voluntarily. Liability of members in respect of reduced shares. Form of registers, etc.
Provisions applicable to a members winding up Power of company to appoint and fix remuneration of liquidators Power to fill vacancy in office of liquidator. Establishment of the Corporate Affairs Commission. Reasons for Winding Up A Company 4. Power to stay winding up Settlement of list of contributories and application of assets Delivery of property to liquidator Payment of debts due by contributory to company and extent to which set-off allowed Power companies act cap 486 of the laws of kenya court to make calls Payment into bank of moneys due to company Order on contributory conclusive evidence Appointment of special manager Power to exclude creditors not companiies in paws Adjustment of rights of contributories Inspection of books by creditors and contributories Power to order costs of winding up to be paid out of assets Power to summon persons suspected of having property of company, etc Attendance of officers of company at meetings of creditors, etc Power to order public examination of promoters and officers Power to arrest absconding promoters, officers and contributories Powers of court cumulative Delegation to liquidator of certain powers of court Dissolution of company Appeals.
Leave a Reply Cancel Reply. Specific performance of contracts to subscribe for debentures. Definitions 2 More information.
Circumstances in which company may be wound up voluntarily Notice of resolution to wind up voluntarily Commencement of voluntary winding up.
Petition for Winding Up and Effects Thereof compahies This write-up provides basic information on what the users of the Companies Registry need to know about the Companies Act with regard to incorporation of a new company.
GUIDELINES TO THE COMPANIES ACT, 2015
Dating of prospectus and particulars to be contained therein Provisions as to expert s consent and allotment Registration of prospectus Penalty acy contravention of sections to Civil liability for mis-statements in prospectus Interpretation of provisions as to prospectus.
Preliminary 2 Part B: Register of Directors Section of the Principal Act requires every company to keep a register of its directors which shall be made available for inspection by the shareholders without charge or by others on payment of a fee. An Act to amend and consolidate the law relating to the incorporation, regulation and winding up of companies and other associations and companies act cap 486 of the laws of kenya.
In case of a public company, the declaration shall be made to the members within 72 hours. Meaning of company and More information. Separate legal personality More information.