ADVOKS GLOBAL · KENYA
Companies Act
534. Treasury shares: offences
Edition: 2024-12-27 · In force
534. Treasury shares: offences
(1)If a company that holds or held shares as treasury shares fails to comply with a requirement of this Part, the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding five hundred thousand shillings.(2)If, after the company or an officer of the company is convicted of an offence under subsection (2), the company continues to fail to comply with the relevant requirement, the company, and each officer of the company who is in default, commit an offence on each day on which the offence continues and on conviction are each liable to a fine not exceeding fifty thousand shillings for each such offence.