ADVOKS GLOBAL · KENYA
Companies Act
235. Persons subject to foreign restrictions to be personally liable for debts of company
Edition: 2024-12-27 · In force
235. Persons subject to foreign restrictions to be personally liable for debts of company
(1)A person who—(a)is a director or secretary of a company registered in Kenya; and(b)is involved in the management of a Kenyan company, is personally responsible for all debts and other liabilities of the company incurred during a time when the person is subject to foreign restrictions.(2)A person who is personally responsible for all debts and liabilities of a company under this section is jointly and severally liable in respect of those debts and liabilities with—(b)any other person who, whether because of this section or otherwise, is so liable.(3)For the purposes of this section, a person is involved in the management of a company if the person directly or indirectly participates in the management of the company.(4)The regulations may provide for different cases under this section and, in particular, may distinguish between cases by reference to all or any of the following factors:(a)the conduct on the basis of which the person became subject to foreign restrictions;(b)the nature of the foreign restrictions;(c)the country or territory under whose law the foreign restrictions were imposed.