Your action was successful!
(1) Except as provided by subsection (2), a valuation and report made for the purpose of sections 73, 368 or 374 can be made only by a qualified valuer.(2) If it appears to the valuer to be reasonable for a valuation of the consideration, or part of it, to be made by (or for the valuer to accept a valuation made by) another person who—(a) appears to the valuer to have the requisite knowledge and experience to value the consideration or that part of it; and (b) is not an officer or employee of—(i) the company; or(ii) any other body corporate that is that company's subsidiary or holding company or a subsidiary of that company's holding company,or a partner of or employed by any such officer or employee, the valuer may arrange for or accept such a valuation, together with a report that will enable the valuer to make the valuer's own report under this section.(3) A reference in subsection (2)(b) to an officer or employee does not include an auditor.(4) If the consideration or part of it is valued by a person other than the value personally, the person shall state that fact in the report and shall specify in the report—(a) the person's name and what knowledge and experience the person has to carry out the valuation; and(b) the extent to which the consideration was valued by the person and the method used to value it, and the date of the valuation.
Share this with your network:
Our powerful Legal Practice Management System is designed specifically for law firms in Kenya. Track cases, manage clients, generate invoices, handle tasks, and more — all in one secure, cloud-based platform.
(1) A person satisfies the independence requirement for the purposes of section 1017 only if— (a) the person is not— (i) an officer or employee of the company; or (ii) a partner or employee of...
(1) This section defines “associate” for the purposes of section 1019. (2) In relation to a natural person, "associate" means— (a) that person's spouse or minor child or step-child; (b) any body...
(1) A person who is carrying out a valuation or making a report with respect to consideration proposed to be accepted or given by a company is entitled to require from the officers of the company such...
(1) The Cabinet Secretary may make general companies regulations prescribing matters— (a) required or permitted by this Act to be prescribed by regulations; or (b) necessary or convenient to be...
(1) The provisions of the Companies Act are repealed on such date or such different dates as the Cabinet Secretary may appoint by notice published in the Gazette. (2) When bringing provisions of this...
(1) If a provision of the repealed Act is re-enacted by this Act (with or without modification), the effect of the provision continues subject to this Act. (2) If— (a) any act, matter or process...
The savings and transitional provisions in the Sixth Schedule have effect.
(1) The Cabinet Secretary may make regulations, not inconsistent with the provisions in the Sixth Schedule, containing provisions of a savings or transitional nature relating to the transition from...