ADVOKS GLOBAL · KENYA
Companies Act
698. Power of Cabinet Secretary to authorise other persons to make application to the Court under section 710
Edition: 2024-12-27 · In force
698. Power of Cabinet Secretary to authorise other persons to make application to the Court under section 710
(1)The Cabinet Secretary may, in writing, authorise for the purposes of section 697 any person who appears to the Cabinet Secretary—(a)to have an interest in, and to have satisfactory procedures directed to ensuring compliance by companies with the requirements of this Act relating to financial statements and directors' reports;(b)to have satisfactory procedures for receiving and investigating complaints about companies' annual financial statements and directors' reports; and(c)otherwise to be a fit and proper person to be authorised for those purposes.(2)A person may be authorised generally or in respect of particular classes of case, and different persons may be authorised in respect of different classes of case.(3)The Cabinet Secretary may refuse to authorise a person if of the opinion that such an authorisation is unnecessary having regard to the fact that there are one or more other persons who have been or are likely to be authorised.(4)An authorisation may impose such conditions relating to the performance of the functions by the authorised person as appear to the Cabinet Secretary to be appropriate.(5)The Cabinet Secretary may authorise a person, only if it appears to the Cabinet Secretary that the person is capable of performing the functions of an authorised person in accordance with the conditions of the proposed authorisation.(6)The Cabinet Secretary may at any time vary the conditions of an authorisation by notice given to the authorised person.(7)The Cabinet Secretary may, in writing, revoke an authorisation for breach of any condition imposed in respect of it and may include in the revocation such provision as the Cabinet Secretary thinks necessary with respect to pending proceedings.