ADVOKS GLOBAL · KENYA
The Companies (General) Regulations
24. Information about consideration provided to or receivable by third parties for making available directors' services
Edition: 2022-12-31 · In force
24. Information about consideration provided to or receivable by third parties for making available directors' services
(1)The information prescribed by paragraph (2) about consideration provided to or receivable by any third party for making available the services of a person as a director of a company, or in any other capacity while a director, 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 consideration provided to or receivable by the third party, whether in cash or otherwise, for making available the qualifying services of such a person; and(b)if any such consideration consists of a benefit otherwise than in cash—the nature of that benefit.(3)In this regulation, a reference to any third party is a reference to any person other than—(b)a connected entity of the director;(d)a subsidiary undertaking of the company.(4)For the purposes of this regulation, if any consideration consists of a benefit otherwise than in cash, to that extent, a reference to the amount of the consideration is a reference to the estimated money value of that benefit.