ADVOKS GLOBAL · KENYA
Companies Act
935. Draft terms of proposed merger to be published
Edition: 2024-12-27 · In force
935. Draft terms of proposed merger to be published
(1)The directors of each of the merging companies shall lodge with the Registrar for registration a copy of the draft terms.(2)As soon as practicable after the copy of the draft terms is lodged with the Registrar (and in any case not later than one month before the date of the meeting (if any) of the company convened for the purpose of approving the scheme), the Registrar shall publish in the Gazette a notice of the lodgement by that company of the copy.(3)If the directors of a merging company fail to comply with subsection (1), each of the directors who is in default commits an offence and on conviction is liable to a fine not exceeding two hundred thousand shillings.(4)If, after a director of the company has been convicted of an offence, the directors continue fail to lodge the required copy with the Registrar, each of the directors who is in default commits a further offence on each day on which the failure continues and on conviction is liable to a fine not exceeding twenty thousand shillings for each such offence.