The Companies Act No. 17 of 2015

Section 480 of The Companies Act No. 17 of 2015: Notice of Court application or order to be lodged with Registrar

(1) Within fourteen days after making an application under section 479, the applicant shall lodge with the Registrar for registration a notice of the application.
(2) Subsection (1) does not affect the operation of any provision of rules of Court as to service of notice of the application.
(3) Within seven days after being served with notice of any such application, the company shall lodge with the Registrar for registration a notice of the application.
(4) Within fourteen days after the making of the Court's order on the application; or such extended period as the Court may at any time allow, the company shall lodge with the Registrar for registration a copy of the order.
(5) A person who fails to comply with subsection (1) commits an offence and on conviction is liable to a fine not exceeding two hundred thousand shillings.
(6) If, after a person is convicted of an offence under subsection (5), the person continues to fail to comply with the relevant requirement, the person commits a further offence on each day on which the failure continues and on conviction is liable to a fine not exceeding twenty thousand shillings for each such offence.
(7) If a company fails to comply with subsection (3) or (4), the company, andeach officer 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.
(8) If, after a company or any of its officers is convicted of an offence under subsection (7), the company continues to fail to comply with the relevant requirement, 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.

View all provisions of The Companies Act No. 17 of 2015 →

Related document templates

Templates linked to this provision or Act. Read the description and preview before choosing.

Browse all legal documents →

More provisions

View all →

Section 485 — Interpretation: Part XVII

(1) In this Part, “distribution” means every description of distribution of the assets of a company to its members (whether in cash or otherwise) subject to the exceptions in subsection (2). (2) The f…

Section 490 — Treatment of development costs

(1) If development costs are shown or included as an asset in a company’saccounting records, any amount shown or included in respect of those costs is to be treated for the purposes of section 486 as…

Section 498 — Procedure on transfer being lodged

(1) As soon as practicable (and in any case not later than two months) after the date on which a transfer of a company’s shares or debentures is lodged with it, the company shall either— (a) register…

Section 501 — Evidence of grant of probate, etc

(1) If a document produced to a company is by law sufficient evidence of thegrant of— (a) probate of the will of a deceased person; (b) letters of administration, of the estate of a deceased person; o…

Section 509 — Duty to consult

Regulations purporting to be made under sections 506 or 507, and an order purporting to be made under section 508, are invalid unless the Cabinet Secretary has previously carried out such consultation…

Section 510 — Interpretation: Part XIX

(1) For the purposes of this Part, an offer to the public includes an offer to any section of the public, however selected. (2) An offer is not regarded as an offer to the public if it can properly be…

Section 518 — The authorised minimum

For the purposes of sections 516 and 517, the authorised minimum in relation to the nominal value of a public listed company's allotted share capital is six million seven hundred and fifty thousand sh…

Section 521 — Terms and manner of redemption

(1) The directors of a limited company may determine the terms, conditions and manner of redemption of shares if they are authorised to do so— (a) by the company's articles; or (b) by a resolution of…

Section 522 — Payment for redeemable shares

(1) Redeemable shares of a limited company can be redeemed only if theyare fully paid. (2) The terms of redemption of shares in a limited company may provide that the amount payable on redemption can,…

Section 523 — Financing of redemption

(1) Redeemable shares of a limited company can be redeemed only out of—(a) distributable profits of the company; or (b) the proceeds of a fresh issue of shares made for the purposes of the redemption.…

Section 525 — Notice to Registrar of redemption

(1) Within one month after a company has redeemed any redeemable shares, the company shall lodge with the Registrar for registration a notice specifying the shares that have been redeemed. (2) The com…

Section 526 — Treasury shares

(1) This section applies to a purchase or acquisition of shares by a limited company of its own shares in accordance with this Act and— (a) the purchase or acquisition is made out of distributable pro…

Section 527 — Treasury shares: maximum holdings

(1) If a company has shares of only one class, the company shall ensure that the aggregate nominal value of shares held as treasury shares does not at any time exceed ten per cent of the nominal value…

Section 529 — Disposal of treasury shares

(1) A company that holds shares as treasury shares may, at any time— (a) sell the shares, or any of them, for a cash consideration; or (b) transfer the shares, or any of them, for the purposes of or i…

Section 530 — Treasury shares: notice of disposal

(1) Within one month after shares held by a company as treasury shares—(a) are sold; or (b) are transferred for the purposes of an employees' share scheme, the company shall lodge with the Registrar f…