Section 734 of Insolvency Act CAP 53: Transitional provisions: Winding up and insolvency of companies

(1) In this section—
“the commencement" means the coming into operation of Parts VI to X;
"past event" means any of the following that has occurred before the commencement:
(a) the passing by the company of a special resolution resolving that the company be wound up;
(b) the making of an application to the Court for a winding up order in respect of the company;
(c) the appointment of a liquidator or provisional liquidator in respect of the company;
(d) a failure by the company to deliver the statutory report to the Registrar or to hold the statutory meeting required under the repealed Companies Act;
(e) failure by the company to commence its business within a year from its incorporation or, if the company has suspended carrying on business, the elapse of a whole year since the business was suspended;
(f) a reduction of the number of members of the company, in the case of a private company, below two, or, in the case of any other company, below seven;
(g) the inability of the company to pay its debts;
(h) in the case of a company incorporated outside Kenya and carrying on business in Kenya, the commencement of winding—up proceedings in respect of it in the country or territory of its incorporation or in any other country or territory in which it carries on or formerly carried on business;
(i) the appointment of a receiver of in respect of the company by the holders of the company's debentures;
(j) the appointment of a receiver and manager in respect of the property of the company.
(2) Despite the repeal of the Companies Act, or of Parts VI to IX of that Act, those Parts, and any other provisions of that Act necessary for their operation, continue to apply, to the exclusion of this Act, to any past event and to any step or proceeding preceding, following, or relating to that past event, even if it is a step or proceeding that is taken after the commencement.
(3) Subsection (2) has effect subject to any transitional regulations in force under section 736 that relate to the insolvency of companies and other bodies corporate.