(1) Subject to this section, a registered foreign company shall, at least once in every calendar year and at intervals of not more than fifteen months, lodge a copy of its financial statement made up to the end of its last financial year, in such form and containing such particulars, and including copies of such documents, as the company is required to prepare by the law for the time being applicable to that company in its place of origin, together with a statement in writing, supported by a statutory declaration, verifying that the copies are true copies of the documents so required.
(2) The Registrar may extend the period within which subsection (1) requires a financial statement or other document to be lodged.
(3) The Registrar may, if of the opinion that the financial statement and the other documents referred to in subsection (1) do not adequately and accurately disclose the company's financial position, require the company to lodge with the Registrar within such period, and in such form, as may be prescribed for the purpose of this subsection such documents as will fully disclose that position.
(4) Subsection (3) does not authorise the Registrar to require a document to contain any information that the company would not be required to provide if it were a public company incorporated under this Act.
(5) A registered foreign company shall comply with the requirements of such a notice.
(6) If a registered foreign company is not required by the law of the place of its incorporation or formation to prepare a financial statement, the company shall prepare and lodge a financial statement, within such period, in such form and containing such particulars and including such documents as the company would have been required to prepare if the company were a public company incorporated under this Act.
(7) The Cabinet Secretary may, by notice published in the Gazette, declare that this section does not apply to specified registered foreign companies.
(8) Subsections (1) to (6) do not apply to a registered foreign company in respect of which a notice under subsection (7) has effect.
(9) The Cabinet Secretary may, by notice published in the Gazette, revoke a notice made under subsection (7), and if the Cabinet Secretary does so, the registered foreign company concerned becomes subject to subsections (1) to (6) from the date of the notice of revocation or from such later date as may be specified in that notice.
(10) If a registered foreign company fails to comply with a subsection (5) or (6), the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding one million shillings.
(11) If, after a registered foreign company or an officer of the company is convicted of an offence under subsection (10), the company continues to fail to comply with the requirement specified in subsection (5) or (6), 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 one hundred thousand shillings for each such offence.
(2) The Registrar may extend the period within which subsection (1) requires a financial statement or other document to be lodged.
(3) The Registrar may, if of the opinion that the financial statement and the other documents referred to in subsection (1) do not adequately and accurately disclose the company's financial position, require the company to lodge with the Registrar within such period, and in such form, as may be prescribed for the purpose of this subsection such documents as will fully disclose that position.
(4) Subsection (3) does not authorise the Registrar to require a document to contain any information that the company would not be required to provide if it were a public company incorporated under this Act.
(5) A registered foreign company shall comply with the requirements of such a notice.
(6) If a registered foreign company is not required by the law of the place of its incorporation or formation to prepare a financial statement, the company shall prepare and lodge a financial statement, within such period, in such form and containing such particulars and including such documents as the company would have been required to prepare if the company were a public company incorporated under this Act.
(7) The Cabinet Secretary may, by notice published in the Gazette, declare that this section does not apply to specified registered foreign companies.
(8) Subsections (1) to (6) do not apply to a registered foreign company in respect of which a notice under subsection (7) has effect.
(9) The Cabinet Secretary may, by notice published in the Gazette, revoke a notice made under subsection (7), and if the Cabinet Secretary does so, the registered foreign company concerned becomes subject to subsections (1) to (6) from the date of the notice of revocation or from such later date as may be specified in that notice.
(10) If a registered foreign company fails to comply with a subsection (5) or (6), the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding one million shillings.
(11) If, after a registered foreign company or an officer of the company is convicted of an offence under subsection (10), the company continues to fail to comply with the requirement specified in subsection (5) or (6), 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 one hundred thousand shillings for each such offence.
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