ADVOKS GLOBAL · KENYA
Companies Act
191. Company to keep copy of contract or memorandum of terms available for inspection
Edition: 2024-12-27 · In force
191. Company to keep copy of contract or memorandum of terms available for inspection
(1)A company shall keep available for inspection—(a)a copy of each director's service contract with the company or with a subsidiary of the company; or(b)if the contract is not in writing – a written memorandum setting out the terms of the contract.(2)Except in so far as the regulations otherwise provide, the company shall keep the copy of the service contract or the memorandum available for inspection at the company's registered office.(3)The company shall retain the copy of the service contract or the memorandum for not less than one year from the date of termination or expiry of the relevant contract and shall keep it available for inspection during that period.(4)If a company fails to comply with a requirement of this section, 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 two 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 requirement, 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.(6)This section applies to a variation of a director's service contract as it applies to the original contract.