ADVOKS GLOBAL · KENYA
Insolvency Act
551. Person making appointment to notify appointment to administrator and others
Edition: 2022-12-31 · In force
551. Person making appointment to notify appointment to administrator and others
(1)As soon as is reasonably practicable after the requirements of section 548 are satisfied, the person who has appointed the administrator under section 541 shall notify the administrator, and such other persons as may be prescribed by the insolvency regulations for the purposes of this section, that those requirements have been satisfied.(2)A person who, without reasonable excuse, fails to comply with subsection (1) commits an offence and on conviction is liable to a fine not exceeding five hundred thousand shillings.