ADVOKS GLOBAL · KENYA
Companies Act
433. Application of sections 437 to 442 to private company that applies for registration of conversion into public company
Edition: 2024-12-27 · In force
433. Application of sections 437 to 442 to private company that applies for registration of conversion into public company
(1)This section applies to a private company that is registered as a public company—(a)after shares in the company have been forfeited in accordance with the company's articles or have been surrendered to the company instead of forfeiture;(b)after shares in which the company had a beneficial interest have been acquired by the company (otherwise than by any of the methods permitted by this Part or Part XVI;(c)after shares in which the company had a beneficial interest have been acquired by a nominee of the company from a third party without financial assistance being given directly or indirectly by the company; or(d)after shares in which the company had a beneficial interest have been acquired by a person with financial assistance given (directly or indirectly) by the company for the purpose of or in connection with the acquisition.(2)When this section applies to a private company whose conversion into a public company has been registered, sections 427 to 432 apply to the company as if it had been a public company at the time of the forfeiture, surrender or acquisition, except that, in the application of section 427, the deadline specified in subsection (3)(a), (b) or (c) of that section runs from the date of the registration of the conversion of the company into a public company.