ADVOKS GLOBAL · KENYA
Companies Act
102. Single member companies
Edition: 2024-12-27 · In force
102. Single member companies
(1)If a limited company is formed under this Act with only one member, the Registrar shall enter in the register of members of the company, the name and address of that member and a statement that the company has only one member.(2)If the number of members of a limited company is reduced to one, the company shall enter in its register of members—(a)the name and address of the member;(b)a statement that the company has only one member; and(c)the date on which the company became a company having only one member.(3)If the membership of a limited company increases from one to two or more members, the company shall enter in the register of members, of the company—(a)the name and address of the person who was formerly the sole member;(b)a statement that the company has ceased to have only one member; and(c)the date on which the company ceased to be a single member company.(4)If a company fails to comply with subsection (2) or (3), 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 five hundred thousand shillings.(5)If, after a company or any of its officers is convicted of an offence under subsection (4), the company continues to fail to comply with the relevant subsection, 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 fifty thousand shillings for each such offence.