The Companies Act No. 17 of 2015Section 402 of The Companies Act No. 17 of 2015: Notice of name or other designation of class of members to be lodged with Registrar
(1) If a company not having a share capital assigns a name or other designation, or a new name or other designation, to any class of its members, it shall, within fourteen days after doing so, lodge with the Registrar for registration a notice giving particulars of the name or designation so assigned.
(2) If a company fails to comply with subsection (1), the company, and eachofficer of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding two hundred thousand shillings.
(3) If, after a company or any of its officers is convicted of an offence under subsection (2), the company continues to fail to lodge the requisite notice, the company, and each officer of the company who is in default, commit a further offence on each day on which the failure continues and on conviction are each liable to a fine not exceeding twenty thousand shillings for each such offence.
Check the current authoritative text and amendment history before relying on this provision.
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