ADVOKS GLOBAL · KENYA
Companies Act
887. Registrar to record memorandum of satisfaction or release
Edition: 2024-12-27 · In force
887. Registrar to record memorandum of satisfaction or release
(1)If a statement is lodged with the Registrar verifying with respect to a registered charge that the debt for which the charge was given has been wholly or partly paid or satisfied, the Registrar shall record in the register of charges relating to the company concerned a memorandum of satisfaction in respect of the payment or partial payment of the debt.(2)If a statement is lodged with the Registrar verifying with respect to a registered charge that a part of the property or undertaking charged has been released from the charge, the Registrar shall record in the register of charges relating to the company a memorandum of release stating that part of the property or undertaking has been released from the charge.(3)If a statement is lodged with the Registrar verifying with respect to a registered charge that a part of the property or undertaking charged has ceased to form part of the company's property or undertaking, the Registrar shall record in the register of charges relating to the company a memorandum of release stating that that part of the property or undertaking has ceased to form part of the company's property or undertaking.(4)As soon as practicable after being requested to do so by the company, the Registrar shall send to the company a copy of a memorandum of satisfaction or release recorded by the Registrar under this section.