Companies Act

9. Private companies

Edition: 2024-12-27 · In force

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9. Private companies

(1)For the purposes of this Act, a company is a private company if—

(a)its articles—

(i)restrict a member's right to transfer shares;

(ii)limit the number of members to fifty; and

(iii)prohibit invitations to the public to subscribe for shares or debentures of the company;

(iv)requires the consent of all members to add a new member

(b)it is not a company limited by guarantee; and

(c)its certificate of incorporation states that it is a private company.

(2)In subsection (1)(a)(ii), “member” excludes—

(a)a member who is an employee of the company; and

(b)a person who was a member while being an employee of the company and who continues to be a member after ceasing to be such an employee.

(3)For the purposes of this section, two or more persons who hold shares in a company jointly are taken to be a single member.[Act No. 12 of 2019, sch.]

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Source: Kenya Law