The Companies Act No. 17 of 2015Section 882 of The Companies Act No. 17 of 2015: Certificate of registration to be endorsed on debentures
(1) As soon as practicable after receiving a certificate of registration of a charge or a security right, the company shall endorse a copy of the certificate on every debenture or certificate of debenture stock that is issued by the company, and the payment of which is secured by the charge or security right so registered.
(2) Subsection (1) does not require a company to cause a certificate of registration of any charge so given to be endorsed on any debenture or certificate of debenture stock issued by the company before the charge or security right was created.
(3) If a company fails to comply with subsection (1), the company, and each 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) A person who lodges or delivers, or authorises the lodgement or delivery of, a debenture or certificate of debenture stock that under this section is required to have endorsed on it a copy of a certificate of registration, knowing that the copy is not endorsed on it, commits an offence and on conviction is liable to a fine not exceeding one million shillings or to imprisonment for a tern not exceeding two years, or to both.
Check the current authoritative text and amendment history before relying on this provision.
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