ADVOKS GLOBAL · KENYA
The Companies (General) Regulations
22. Information about directors' retirement benefits to be included in notes to financial statements
Edition: 2022-12-31 · In force
22. Information about directors' retirement benefits to be included in notes to financial statements
(1)The information about directors' retirement benefits prescribed by paragraph (2) is information required to be included in the notes to the financial statements of a company for a financial year.(2)The information referred to in paragraph (1) is—(a)the aggregate amount of the retirement benefits paid to or receivable by the directors of the company in respect of their qualifying services; and(b)if any such retirement benefits consist of a benefit otherwise than in cash, the nature of that benefit.(3)The information is required to distinguish between—(a)the retirement benefits paid or receivable in respect of a person's services as a director, whether of the company or its subsidiary undertaking; and(b)the retirement benefits paid or receivable in respect of that person's other services in connection with the management of the affairs of the company or its subsidiary undertaking.(4)For the purposes of paragraphs (2) and (3), any amount of the retirement benefits paid or receivable under a retirement benefits scheme is to be disregarded if the contributions made under the scheme are substantially adequate for the maintenance of the scheme.(5)For the purposes of this regulation, if any retirement benefits consist of a benefit otherwise than in cash, to that extent, a reference to the amount of the retirement benefits is a reference to the estimated money value of that benefit.