ADVOKS GLOBAL · KENYA
Companies Act
120. Exercise of rights if shares held on behalf of others
Edition: 2024-12-27 · In force
120. Exercise of rights if shares held on behalf of others
(1)If a member holds shares in a company on behalf of more than one person—(a)rights attached to the shares; and(b)rights under any written law exercisable because of holding the shares,need not all be exercised, and if exercised, need not all be exercised in the same way.(2)A member who exercises the rights referred to in subsection (1) but does not exercise all those rights shall inform the company to what extent the member is exercising the rights.(3)A member who exercises the rights in different ways shall inform the company of the ways in which the member is exercising the rights and to what extent the member is exercising the rights in each way.(4)If a member exercises the rights in this section without informing the company that the member—(a)is not exercising all the member's rights; or(b)is exercising those rights in different ways, the company is entitled to assume that the member is exercising all of those rights and is exercising them in the same way.