ADVOKS GLOBAL · KENYA
Companies Act
516. Public company: requirement for minimum share capital
Edition: 2024-12-27 · In force
516. Public company: requirement for minimum share capital
(1)A company that is a public company shall not conduct business or exercise a borrowing power unless the Registrar has issued it with a trading certificate under this section.(2)On receiving an application made by a public company under section 517, the Registrar shall issue a trading certificate to the company if satisfied that the nominal value of the allotted share capital of the company is not less than the authorised minimum.(3)For the purpose of subsection (2), a share allotted under a share scheme of an employee can be taken into account only if it is paid up to—(a)at least one-quarter of the nominal value of the share; and(b)the whole of any premium on the share.(4)A trading certificate has effect from the date on which it is issued and is conclusive evidence that the company is entitled to do business and exercise any borrowing powers.