The Companies Act No. 17 of 2015Section 639 of The Companies Act No. 17 of 2015: Company that is not a small company to prepare group financial statement
(1) If, at the end of a financial year, a company that is not subject to the smallcompanies regime is a parent company, the directors of the company shall, in addition to preparing an individual financial statement, prepare a group financial statement for the year, unless the company is exempt from that requirement.
(2) Nothing in this section prevents the directors of a company that is exemptfrom the requirement to prepare a group financial statement from doing so if they wish.
(3) If the directors of a company of the kind referred to in subsection (1) fail to comply with that subsection, each director of the company who is in default commits an offence and on conviction is liable to a fine not exceeding five hundred thousand shillings.
Check the current authoritative text and amendment history before relying on this provision.
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A parent company is exempt from the requirement to prepare a group financial statement if under section 644 all of its subsidiary undertakings could be excluded from consolidation in a group financial…
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(1) In preparing a group financial statement, the directors of the parent company shall include in the consolidation all of the subsidiary undertakings of the company, subject to the exceptions specif…
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(1) If— (a) a company prepares a group financial statement in accordance with this Act; and (b) the notes to the company's individual balance sheet show the company's profit or loss for the financial…
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(1) If a company is not subject to the small companies regime, the directors of the company shall include in notes to the company’s annual financial statement the following information about the compa…
(1) Except in the case of a company that is subject to the small companies regime, the directors of a company shall include in the notes to the company's individual financial statement details of the…
(1) If a group financial statement is not prepared for a company, the directors of the company shall include in the notes to the company’s individual financial statement details of— (a) advances and c…
(1) As soon as practicable after a company’s annual financial statement hasbeen prepared, the directors shall approve the statement and arrange for one or more of them to sign it. (2) The directors sh…
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(1) The directors shall include in their report for a financial year— (a) the names of the persons who, at any time during the financial year, were directors of the company; and (b) the principal acti…
(1) Unless the company is subject to the small companies regime, the directors shall include in their report a business review that complies with subsection (3), so far as relevant to the company. (2)…
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(1) This section applies to a company unless— (a) it is exempt for the relevant financial year from the requirements of Part XXVII with respect to the auditing of the company’s financial statement; an…
(1) As soon as practicable after the directors have finished preparing their annual report for the company, they shall approve the report and arrange for one of them or the secretary of the company to…
(1) The directors of a quoted company shall prepare a directors’ remuneration report for each financial year of the company. (2) If subsection (1) is not complied with for a financial year, each perso…
(1) The regulations may prescribe— (a) the information that is required to be included in a directors’ remuneration report; (b) how information is to be set out in the report; and (c) what is to be th…
(1) As soon as practicable after the directors have finished preparing thedirectors’ remuneration report, the directors shall approve the report and shall arrange for one of them or the secretary of t…
(1) Every company shall send a copy of its annual financial statement andreports for each financial year to— (a) every member of the company; (b) every holder of the company’s debentures; and (c) ever…
(1) A private company shall comply with section 662 not later than— (a) the deadline for lodging a financial statement and directors' report with the Registrar; or (b) if earlier— the date on which th…
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(1) A company may, in such circumstances as may be prescribed by the regulations for the purposes of this section, send to its members a summary financial statement instead of the copy of the financia…
(1) The company shall send copies of the financial statement and reports to anyperson entitled to receive them in accordance with section 662 and who wishes to receive them. (2) A company that propose…
(1) If a company that is not a quoted company exercises the option to provide a summary financial statement, it shall ensure that the statement— (a) is derived from the company’s annual financial stat…
(1) If a quoted company exercises the option to provide a summary financial statement, it shall ensure that the statement— (a) is derived from the company’s annual financial statement and the director…
(1) If a company fails to comply with a requirement of section 666, 667 or 668,the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a…
(1) A quoted company shall ensure that its annual financial statement anddirectors’ report— (a) is made available on a website that complies with section 672; and (b) remains available on the website…
(1) If a quoted company prepares a preliminary statement of its annual results in accordance with the requirements of listing rules or comparable requirements of the market on which the company’s equi…
(1) For the purposes of sections 670 and 671, a website complies with this section if it— (a) is maintained by or on behalf of the company; (b) identifies the company; and (c) access to the informatio…
(1) A member, or holder of debentures, of an unquoted company is entitled to be provided, on demand and without charge, with a copy of— (a) the last annual financial statement of the company; (b) the…
(1) A member of, or holder of debentures of, a quoted company is entitled to be provided, on demand and without charge, with a copy of— (a) the company's most recent annual financial statement; (b) th…
(1) A company that publishes a document to which this section applies shall ensure that the document states the name of the person who signed it on behalf of the directors. (2) In the case of an unquo…
(1) When publishing its statutory financial statement, a company shall enclosewith or annex to the statement a copy of the auditor’s report on that financial statement, unless the company is exempt fr…
(1) If a company publishes a non–statutory financial statement, it shall publish with it a statement indicating— (a) that it is not the company's statutory financial statement; (b) whether a statutory…
For the purposes of sections 675, 676 and 677, a company is taken to have published a financial statement or directors’ report if it publishes, issues or circulates it or otherwise makes it available…
(1) The directors of a public company shall present to the members at a generalmeeting of the copies of its annual financial statement and directors’ and other reports. (2) The directors shall comply…
(1) If the requirements of section 679 are not complied with before the end ofthe specified period, every person who immediately before the end of that period was a director of the company commits an…
(1) The directors of a quoted company shall, before the general meeting at which the financial statement is to be presented, give to the members of the company entitled to be sent notice of the meetin…
(1) If the directors of a quoted company fail to comply with section 681(1), eachof the directors who is in default, commit an offence and on conviction are each liable to a fine not exceeding five hu…
(1) The directors of a company shall lodge with the Registrar for each financial year the financial statement and reports required by section 686, 687 or 688.
(1) The deadline for lodging with the Registrar the documents referred to in section 683(1) is— (a) for a private company — nine months after the end of the company's relevant accounting reference per…
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(1) The directors of a company that is subject to the small companies regime— (a) shall lodge with the Registrar for each financial year a copy of a balance sheet drawn up as at the last day of that y…
(1) The directors of an unquoted company shall lodge with the Registrar foreach financial year of the company a copy of— (a) the company's annual financial statement; (b) the directors' report; and (c…
(1) The directors of a quoted company shall lodge with the Registrar for each financial year of the company a copy of— (a) the company's annual financial statement; (b) the directors' remuneration rep…
(1) The directors of an unlimited company are not required to lodge a financial statement with the Registrar in respect of a financial year if at no time during the relevant accounting reference perio…
