ADVOKS GLOBAL · KENYA
Insolvency Act
647. Duty of monitor to publish and give notice that moratorium has taken effect
Edition: 2022-12-31 · In force
647. Duty of monitor to publish and give notice that moratorium has taken effect
(1)As soon as practicable after being notified that a moratorium has taken effect, the monitor shall—(a)publish—(ii)once in at least two newspapers circulating in the area in which the company has its principal place of business in Kenya; and(iii)on the company's website (if any),a notice to the effect that the moratorium has taken effect;(b)give a notice to the effect that the moratorium has taken effect to any creditor of the company who has applied for a liquidation order against the company before the coming into effect of the moratorium; and(c)lodge a copy of the notice with the Registrar for registration.(2)A monitor who, without reasonable excuse, fails to comply with a requirement of subsection (1) commits an offence and on conviction is liable to a fine not exceeding two hundred thousand shillings.(3)If, after being convicted of an offence under subsection (2), a monitor continues to fail to comply with the relevant requirement, the monitor 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.