ADVOKS GLOBAL · KENYA
Companies Act
163. Property transactions: effect of subsequent affirmation
Edition: 2024-12-27 · In force
163. Property transactions: effect of subsequent affirmation
(1)If a transaction or arrangement is entered into by a company in contravention of section 158 but within a reasonable period, it is affirmed—(a)in the case of a contravention of subsection (1) of that section, by resolution of the members of the company; and(b)in the case of a contravention of subsection (2) of that section, by resolution of the members of the holding company, the transaction or arrangement can no longer be avoided under section 162.(2)A period that exceeds three months is not a reasonable period for the purposes of subsection (1).