Browse an Act, find a provision and read each section in context.
Browse Acts ↓(1) The expenses of liquidating a company, so far as the assets of the company available for payment of general creditors are insufficient to meet those expenses, have priority over any claims to property comprised in or subject to any floating charge created by the company and are to be paid out of…
(1) This section applies to a company in respect of which a floating charge relates to its property— (a) if the company is in liquidation or under administration; or (b) if a provisional liquidator is appointed in respect of it. (2) If this section applies to a company, the liquidator, administrator…
(1) If a company is in liquidation or a provisional liquidator is appointed in respect of the company, the Court may, on an application made under subsection (2), appoint a person to be the special manager of the business or property of the company. (2) An application to the Court to appoint a speci…
(1) The liquidator may, by the giving such notice as is prescribed by the insolvency regulations, disclaim any onerous property and may do so even if the liquidator has taken control of it, tries to sell it, or otherwise exercised rights of ownership in relation to it. (2) The following is onerous p…
(1) The disclaimer under section 476 of any property comprising a leasehold interest does not take effect unless a copy of the disclaimer has been served on every person claiming under the company as under-lessee or mortgagee whose address is known to the liquidator and either— (a) an application un…
(1) If, as a result of the disclaimer under section 476 of land subject to a rentcharge, the land vests by operation of law in a person, the person is not subject to any liability in respect of amounts becoming due under the rentcharge except amounts that become due after the proprietor, or some per…
(1) This section and section 480 apply to property that the liquidator has disclaimed in accordance with section 476. (2) An application to the Court for an order under subsection (3) may be made by— (a) any person who claims an interest in the disclaimed property; or (b) any person who is under a l…
(1) The Court may not make an order under section 479 vesting a leasehold interest in a person claiming under the company as underlessee or mortgagee except on terms making the person— (a) subject to the same liabilities and obligations as the company was subject to under the lease at the commenceme…
(1) If— (a) a creditor— (i) has issued execution against the goods or land of a company; or (ii) has attached any debt due to it; and (b) the company is subsequently liquidated, the creditor is not entitled to retain the benefit of the execution or attachment against the liquidator unless the credit…
(1) This section applies if— (a) a company's goods are taken in execution; and (b) before their sale or the completion of the execution (whether by the receipt or recovery of the full amount of the levy), notice is served on the judicial enforcement officer charged with execution of the writ or othe…
(1) A person who is, as against the liquidator, entitled to the benefit or subject to the burden of a contract made with the company, may make an application for an order under subsection (2). (2) On the hearing of an application made under subsection (1), the Court may make an order rescinding the…
(1) On the liquidation of a company (whether by the Court or voluntarily), the liquidator may, in accordance with this section, make any payment that the company has, before the commencement of the liquidation, decided to make under the Companies Act (Cap. 486) to employees or former employees on ce…
(1) A company that is in liquidation shall ensure that the following documents state that the company is in liquidation: (a) every invoice, order for goods or services, business letter or order form (whether in hard copy, electronic or any other form) issued by or on behalf of the company, or a liqu…
(1) In a company liquidation, interest is payable in accordance with this section on any debt proved in the liquidation, including so much of any such debt as represents interest on the remainder. (2) The liquidator shall, before applying any surplus remaining after the payment of the debts proved i…
(1) If a company is in liquidation, the following documents are exempt from stamp duty— (a) every transfer relating solely to freehold or leasehold property, or to any interest in, any real or movable property, that forms part of the company's assets and that, after the execution of the transfer, ei…
When a company is in liquidation, all records of the company and of the liquidator are (as between the contributories of the company) evidence of the truth of all matters purporting to be recorded in them, until the contrary is proved.
(1) If the liquidation of a company is not completed within twelve months after its commencement, the liquidator shall, at such intervals as are prescribed by the insolvency regulations and until the liquidation is completed, lodge with the Registrar a statement containing the particulars so prescri…
If a resolution is passed at an adjourned meeting of a company's creditors or contributories, the resolution is for all purposes taken to have been passed on the date on which it was in fact passed, and not as having been passed on any earlier date.
(1) The Court may— (a) as to all matters relating to the liquidation of a company, have regard to the wishes of the creditors or contributories (as proved to it by any sufficient evidence); and (b) if it considers appropriate, for the purpose of ascertaining those wishes— (i) direct meetings of the…
In all proceedings under this Part, all courts and tribunals, all judges and persons acting judicially, and all officers of a court or tribunal, or employed in enforcing the process of a court or tribunal, are required to take judicial notice of— (a) the signature of an officer of the High Court; an…
(1) An affidavit required to be sworn under or for the purposes of this Part may be sworn in Kenya— (a) before any court, tribunal, judge or person lawfully authorised to take and receive affidavits; or (b) before any diplomat representing the Government of Kenya in any place outside Kenya. (2) All…
(1) This section applies to a company in voluntary liquidation if the liquidator has sent to the Registrar the liquidator's final account and return in accordance with section 402 or 414. (2) As soon as practicable after receiving the account and return, the Registrar shall register them. (3) At the…
(1) This section applies when an order for the liquidation of a company has been made by the Court and the Official Receiver is the liquidator of the company. (2) On being satisfied— (a) that the realisable assets of the company are insufficient to cover the expenses of the liquidation; and (b) that…
(1) If a notice has been given in accordance with section 495(3), the Official Receiver or any creditor or contributory of the company may apply to the Court for directions under this section. (2) The grounds on which such an application may be made are— (a) that the realisable assets of the company…
(1) This section applies to a notice that is— (a) served for the purposes of section 468(9); or (b) from the Official Receiver that the liquidation of a company by the Court is complete. (2) As soon as practicable after such a notice is lodged for registration, the Registrar shall register it. (3) A…
(1) This section applies in relation to a company— (a) in respect of which the Court has made a liquidation order; or (b) that has passed a resolution for the voluntary liquidation of the company. (2) An officer or former officer of the company commits an offence if, within the twelve months immedia…
(1) This section applies in relation to a company— (a) in respect of which the Court has made a liquidation order; or (b) that has passed a resolution for the voluntary liquidation of the company. (2) An officer or former officer of the company commits an offence if the officer or former officer— (a…
(1) This section applies in relation to a company that is in liquidation, whether voluntary or by the Court. (2) An officer or former officer of the company commits an offence if the officer or former officer— (a) does not to the best of the officer's or former officer's knowledge and belief fully a…
(1) This section applies in relation to a company that is in liquidation, whether voluntary or by the Court. (2) An officer or contributory of the company commits an offence if, during the liquidation, the officer or contributory, with intent to defraud or deceive the company or any other person— (a…
(1) This section applies to a company that is in liquidation, whether voluntary or by the Court. (2) An officer or former officer of the company commits an offence if, during the liquidation, the officer or former officer makes a material omission from a statement relating to the company's financial…