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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However there are other minor amendments to the said Act which are meant to correct errors and also provide clarity companies act cap 486 of the laws of kenya some provisions. Each form bears a reference to the Companies Act rather than the Cap 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.
As a result there is no change to the processes. Statutory declaration of solvency in case of proposal to wind up voluntarily. Meetings and Proceedings Allotment of shares and debentures to be dealt in on stock exchange. Form of registers, etc. Alteration of articles by special resolution. Statutory forms of memorandum and articles The form of c d the memorandum of association of a company limited by shares; the memorandum and articles of association of a company limited by guarantee and not having a share capital; the memorandum and articles of association of a company limited by guarantee and having a share capital; the memorandum and articles of association of an unlimited company having a share capital, shall be respectively in accordance with the forms set out in Tables B, C, D and E in companies act cap 486 of the laws of kenya First Schedule, or as near thereto as circumstances admit.
Power to dispense with limited in name of charitable and other companies. Separate legal personality More information.
Alteration in companies act cap 486 of the laws of kenya or articles increasing liability to contribute to share capital not to bind existing members without consent. Registration of unlimited company as limited 1 Subject to the provisions of this section, a company copanies as unlimited may register under this Act as limited, or a company already registered as a limited company may re-register under this Act, but the registration of an unlimited company as a limited company shall not affect the rights or liabilities of the company in respect of any debt or obligation incurred, or any contract entered into, by, to, with, or on behalf of the company before the registration.
Alternative remedy to winding up in cases of oppression Modes of winding up. Special Provisions as to Debentures Offence in connection with share warrants.
Power to reissue redeemed debentures in certain cases. Copy of order to be forwarded to registrar Actions stayed on winding-up order Effect of winding-up order. Statutory registers should also be maintained to provide a historical and an up to date record of matters affecting the company.
Key Highlights on the Amendments to the Companies Act, – Robson Harris
Short title and commencement Commissions and Discounts, Etc. Construction of references to offering shares or debentures to the public. Short title and commencement. Criminal liability for mis-statements in prospectus. Mode in which and extent to which objects of company may be altered.
COMPANIES ACT CHAPTER 486 LAWS OF KENYA
Chapter 9 Public offers of securities, prevention of market abuse, etc. To consolidate and amend the law relating to companies. Do I have to use the new Forms? Prohibition of allotment unless minimum subscription received. Explanatory Notes to Sample A. Notice of increase of share capital. 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.
GUIDELINES TO THE COMPANIES ACT, – State Law Office and Department of Justice
If a company makes default in complying with a direction companies act cap 486 of the laws of kenya this subsection, the company and every officer of the company who is in default shall be liable to a fine not exceeding one hundred shillings for every day during which the default continues. Specific performance of contracts to subscribe for debentures. Variation of Shareholders Rights Jurisdiction to wind up companies registered in Kenya. Disqualification of body corporate for appointment as receiver Disqualification of undischarged bankrupt from acting as receiver or manager Power to appoint official receiver as receiver for debenture holders or creditors Receivers and managers appointed out of court.