ADVOKS GLOBAL · KENYA
Tea Act
34. Management agent agreement
Edition: 2022-12-31 · In force
34. Management agent agreement
(1)A person who intends to manufacture or deal in tea may engage the services of a management agent upon such terms and conditions as may be agreed in the management agreement between them.(2)A management agent shall sign a management agreement with each tea factory limited company that they intend to offer management agent services to.(3)A management agreement between a management agent and a tea factory, shall be—(a)submitted to the Board for review and approval before execution by parties; and(b)for a period of five years, and may be renewed upon expiry at the discretion of the tea factory.(4)The remuneration for services rendered by a management agent to a tea factory limited company shall not exceed one point five per centum of the net sales value of the tea sold per year.(5)The staff costs for personnel seconded to the tea factory limited company by a management agent shall be borne by the management agent.(6)Company Secretarial services shall be excluded from services to be offered by a management agent to a tea factory limited company.(7)A tea factory shall recruit its own in-house Company Secretary or outsource the service.(8)Despite subsection (7), a tea factory may enter into an arrangement with one or more tea factories to have a joint in-house Company Secretary.(9)A director of a tea factory shall not serve as a director in another company having a direct or indirect commercial relationship with the tea factory where the person is serving as a director.(10)Where the provisions of subsection (9) apply, a director of a tea factory shall forthwith relinquish his or her position.