ADVOKS GLOBAL · KENYA
Companies Act
445. Certain transactions excepted unconditionally from sections 442 and 443
Edition: 2024-12-27 · In force
445. Certain transactions excepted unconditionally from sections 442 and 443
Sections 442 and 443 do not prohibit any of the following transactions—(a)a distribution of a company’s assets in the form of—(i)a dividend lawfully made; or(ii)a distribution in the course of a company's liquidation;(b)an allotment of bonus shares;(c)a reduction of capital;(d)a redemption of shares;(e)anything done in accordance with an order of the Court sanctioning a compromise or arrangement with members or creditors;(f)anything done under an arrangement under which the liquidator in the liquidation of a company accepts shares as consideration for sale of the company’s property;(g)anything done under a voluntary arrangement entered into under the laws relating to insolvency.