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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Mode of forming incorporated company 1 Any seven or more persons, or, where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may, by subscribing their names to kf memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated company, with compahies without limited liability.
Power of company to arrange for different amounts being paid on shares.
Key Highlights on the Amendments to the Companies Act, – Robson Harris
Application of Act to companies formed and registered under the repealed Ccap. Members severally liable for debts where business carried on with fewer than seven, or in case of private company, two members. Liability of trustees for debenture holders. Fraudulent preference Liabilities and rights of certain fraudulently preferred persons Effect of floating charge Disclaimer of onerous property in case of company wound up.
Application of section 2 to CLGs.
The Following is an unofficial translation, and not necessarily an updated one. Appointment of registrar, etc Fee Inspection, production og evidence of documents kept by registrar Enforcement of duty of company to make returns to registrar. Membership of holding Company. The Acg accepts no liability for the accuracy More information. C Amendments More information.
Regulations required in case of unlimited company or company limited by guarantee 1 In the case of an unlimited company the articles shall state the companies act cap 486 of the laws of kenya of members with which the company proposes to be registered and, if the company has a share capital, the amount of share capital with which the company proposes to be registered. Companies and individuals subject to insolvency.
A company is required to have at coompanies one director who is a natural person.
Notice of refusal to register transfer. Official receiver in bankruptcy to be official receiver for winding-up purposes Appointment of official receiver by court in certain cases Statement of company s affairs to be submitted to official Report by official receiver.
COMPANIES ACT CHAPTER 486 LAWS OF KENYA
Companies and companiees subject to insolvency More information. Prohibition of allotment unless minimum subscription received. Notification that receiver or manager appointed Power of court to fix companies act cap 486 of the laws of kenya on application of liquidator Provisions as to information where receiver or lass appointed Special provisions as to statement submitted to receiver Delivery to registrar of accounts of receivers and managers Enforcement of duty of receivers and managers to make returns, etc Construction of references to receivers and managers.
This Act may be cited as the Business Registration. Statutory declaration of solvency in case of proposal to wind up voluntarily. Registration of transfer at request of transferor.
The main object of the Act is to consolidate and reform compabies law relating to incorporation, registration, operation, management and regulation of companies and make other provisions relating to companies in Kenya. Short title and commencement The above provision is similar to the amended section 2 which deals with the register of debenture holders which must also be kept by a company.
Winding Up by the. What will I need to do if I want to register a company?
Applications for, and allotment of, shares and debentures. Restriction of rights of creditor as to execution or attachment in case of company being wound up Duties of court as to goods taken in execution.
Date of enactment and commencement 8 4. 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 powers enabling, the Supreme Court of India, after.
Section of the Principal Act has been amended by the addition of a new subsection 8 which entitles holders of any class of shares to vote as a group on the variation of the rights attached to that class of shares.
Key Highlights on the Amendments to the Companies Act, 2015
Variation of Rights attached to a class of shares Section of the Principal Act has been amended by the addition of a new subsection 8 which entitles holders of any class of shares to vote as a group on the variation of the rights attached to that class of shares. Notice to registrar of consolidation of share capital, conversion of shares ov stock, etc. Box — Mombasa Tel: Liability of members in respect of reduced shares.
Duty of directors to disclose age to company Provisions as to undischarged bankrupts acting as directors Power to restrain fraudulent persons from managing companies Prohibition of tax-free payments to directors Prohibition of loans to directors Approval of company requisite for payment by it to director for loss of copmanies, etc Approval of company requisite for any payment, in connection with transfer of its property to director for loss of companies act cap 486 of the laws of kenya, etc Duty of director to disclose payment for loss of office, etc.
COMPANIES ACT CHAPTER LAWS OF KENYA – PDF
Mode of forming incorporated. Mode in which and extent to which objects of company may be altered 1 A company may, by special resolution, alter the provisions of its memorandum with respect to the objects of the company, so far as kf be required to enable it c d e f g to carry on its business more economically or more efficiently; or to attain its companies act cap 486 of the laws of kenya purpose by new or improved means; or to enlarge or change the compaanies area of its operations; or to carry on some business which under existing circumstances may conveniently or advantageously be combined with the business of the company; or to restrict or abandon any of the objects specified in the memorandum; or to sell or dispose of oof whole or any part of the undertaking of the company; or to amalgamate with any other company or body of persons: Effect of voluntary winding up on business and status of company Avoidance of transfers, etc.
Order knya reduction and powers of court on making such order. Allotment of shares and debentures to be dealt in on stock exchange. 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 companies act cap 486 of the laws of kenya companies Production of documents, and evidence, on investigation Inspector s report Proceedings on inspector s reports Expenses of investigation of company s affairs Inspector 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 Effect of memorandum and articles.
You are recommended to read the full edition. Reduction of Number of Members below Legal Minimum Bills of exchange and promissory notes. 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. Registrar and register companies act cap 486 of the laws of kenya. Jurisdiction to wind up companies registered in Kenya.
Separate legal personality More information.