(1) A company shall ensure that minutes of all proceedings at meetings of itsdirectors are recorded.
(2) A company shall keep the minutes of each meeting of its directors' for atleast seven years from the date of the meeting.
(3) If a company fails to comply with subsection (1) or (2), the company, andeach director of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding five hundred thousand shillings.
(4) If a prosecution for an offence under subsection (3) is brought, every person who was a director at the time the meeting was held is taken to be a director of the company for the purposes of the prosecution and disposal of the offence, even if the person is no longer a director of the company.
(2) A company shall keep the minutes of each meeting of its directors' for atleast seven years from the date of the meeting.
(3) If a company fails to comply with subsection (1) or (2), the company, andeach director of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding five hundred thousand shillings.
(4) If a prosecution for an offence under subsection (3) is brought, every person who was a director at the time the meeting was held is taken to be a director of the company for the purposes of the prosecution and disposal of the offence, even if the person is no longer a director of the company.
Check the current authoritative text and amendment history before relying on a provision.