ADVOKS GLOBAL · KENYA
The Companies (General) Regulations
42. Directors' report to include details of directors' interests
Edition: 2022-12-31 · In force
42. Directors' report to include details of directors' interests
(1)A directors' report for a financial year is required to include a statement that complies with paragraph (3) if, at the end of the financial year, there exist arrangements—(a)to which the company or a specified undertaking of the company is a party; and(b)whose objects are, or one of whose objects is, to enable directors of the company to acquire benefits by means of the acquisition of shares in, or debentures of, the company or any other body corporate.(2)A directors' report for a financial year is required to include a statement that complies with paragraph (3) if at any time in the financial year there existed arrangements—(a)to which the company or a specified undertaking of the company was a party; and(b)whose objects were, or one of whose objects was, to enable directors of the company to acquire benefits by means of the acquisition of shares in, or debentures of, the company or any other body corporate.(3)The statement is required—(a)to explain the effect of the arrangements referred to in paragraph (1) or (2); and(b)to give the names of the persons who at any time in that financial year were directors of the company and held, or whose nominees held, shares or debentures acquired under the arrangements.(4)Paragraphs (1) and (2) do not apply in respect of a company that falls within the reporting exemption for the financial year.