Companies Act

169. Exceptions for expenditure on company business

Edition: 2024-12-27 · In force

169. Exceptions for expenditure on company business

(1)An approval is not required under section 164, 165, 166 or 167 for anything done by a company—

(a)to provide a director of the company or of its holding company, or a person connected with any such director, with funds to meet expenditure incurred or to be incurred by the director—

(i)for the purposes of the company; and

(ii)for the purpose of enabling the director properly to perform the director's duties as an officer of the company; and

(b)to enable any such person to avoid incurring such expenditure.

(2)This section does not authorise a company to enter into a transaction if the aggregate of—

(a)the value of the transaction; and

(b)the value of any other relevant transactions or arrangements,

exceeds ten million shillings.

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Source: Kenya Law