The Board of directors is the heart and brain of a Company. The Board offers strategic leadership and direction through regular meetings wherein strategies are determined to ensure the proper functionality of company operations.
Subject to section 1022 of the Companies Act 2015, the Attorney General published the Companies (Beneficial Ownership Information) Regulations, 2020 through Legal Notice No 12 dated 18th February 2020. The Regulations require that all companies maintain a register of beneficial owners, which discloses the particulars of natural persons who own or control the company. The regulations…
De-registration of a business name is undertaken in the event of cessation of operations of the business to convert it to a limited company or in a bid to dissolve and wind up its operations. For limited companies, the de-registration is undertaken in the event that the entity wishes to cease its operations and have…
Limited Liability Partnerships (LLPs) in Kenya are governed by the Limited Liability Partnership Act, 2012 (“the Act”). They are defined as “Any part registered in the LLP Act”. An LLP is a form of a business organization hybrid between a traditional general partnership and a limited liability company. Establishment and Registration of LLPs The establishment…
Special Economic Zones which are governed by the Special Economic Zone Authority are set up as a means of realizing Vision 2030 and the Big 4 Agenda through creating a favourable business environment for investors within delineated special zones through integrated infrastructure facilities, removal of impediments to economic and business activities undertaken by SEZ Enterprises….
A company limited by guarantee is purely not for profit and is registered under the Companies Act 2015. The memorandum and articles provision for the amount that the members undertake to contribute to the assets of the company in the event of its liquidation. Section 7 of the Kenyan Companies Act 2015 states that a…
The Introduction of One Step Business registration process has made the business registration process in Kenya efficient, easy and convenient. The Registrar of Companies in Kenya carries out the registration of companies and other forms of businesses in Kenya pursuant to the Companies Act, 2015 of the Laws of Kenya. At Imperial Registrars, we make…
DUTIES OF A DIRECTOR According to the Oxford dictionary, a director is a person in charge of an activity, a project, an organization or a department. A director of a company, together with fellow/ other directors, are most often than not, referred to as a board of directors. A director has the responsibility of putting…
The nominal/authorized share capital of a company refers to the designated or assigned share capital of a company. The allotted share capital of a company denotes the amount of share capital that has been allotted by a company at any time. During formation of a company, the members ought to pay funds in respect to…