Companies Act

417. Public company reducing capital below authorised minimum

Edition: 2024-12-27 · In force

417. Public company reducing capital below authorised minimum

(1)If the Court makes an order confirming a reduction of a public company’s capital that has the effect of bringing the nominal value of its allotted share capital below the authorised minimum, the Registrar may register the order only if—

(a)the Court so directs; or

(b)the company first converts itself into a private company and applies to the Registrar for registration of the conversion.

(2)Section 418 prescribes an expedited procedure for registering a company as a private company in the circumstances referred to in subsection (1).

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Source: Kenya Law