ADVOKS GLOBAL · KENYA
Companies Act
550. Right to inspect and request copy of reports
Edition: 2024-12-27 · In force
550. Right to inspect and request copy of reports
(1)A company that has prepared a report in accordance with section 548 shall ensure that during the company’s ordinary business hours it is available for inspection by any person without charge.(2)A company shall allow any person who makes a request to the company to inspect a report prepared in accordance with section 548 to do so.(3)Any person who requests the company for a copy of any such report, or of a specified part of it, is entitled, on payment of such fee (if any) as may be prescribed by the regulations, to be provided with a copy of the report or specified part.(4)Subject to payment of the prescribed fee (if any), is the company shall comply with the request within ten days after receiving it.(5)If the company refuses to allow an inspection required under subsection (2), or fails to comply with subsection (4), 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.(6)If, after a company or any of its officers is convicted of an offence under subsection (5), the company continues to refuse to allow the inspection of the relevant report, or to provide the requested copy, the company, and each officer of the company who is in default, commit a further offence on each day on which the failure continues and on conviction are each liable to a fine not exceeding fifty thousand shillings for each such offence.(7)In the case of any such refusal or failure, any person aggrieved by the refusal or failure may apply to the Court for an order under subsection (8).(8)On the hearing of such an application, the Court may make an order compelling the company to allow an immediate inspection of the report, or direct the company to send to the applicant or to any person on whose behalf the application is made the required copy.(9)On the hearing of such an application, the company concerned is entitled to appear and be heard as respondent.(10)An application under subsection (7) may be made, heard and determined irrespective of whether the company concerned is prosecuted for an offence under this section.Division 5 — Register of interests disclosed