ADVOKS GLOBAL · KENYA
The Companies (General) Regulations
43. Directors' report to give details of certain donations made by company
Edition: 2022-12-31 · In force
43. Directors' report to give details of certain donations made by company
(1)If a company (not being the wholly owned subsidiary of a company incorporated in Kenya)—(a)has no subsidiary undertakings; and(b)has in a financial year made donations for charitable or other purposes to a total amount of not less than KSh100,000,a directors' report for the financial year is required to state the total amount of those donations.(2)If—(a)a company (not being the wholly owned subsidiary of a company incorporated in Kenya) has subsidiary undertakings; and(b)the company has in a financial year made donations (whether on its own or by its subsidiary undertakings) for charitable or other purposes to a total amount of not less than KSh100,000,a directors' report for the financial year is required to state the total amount of those donations.(3)Paragraphs (1) and (2) do not apply in respect of a company that falls within the reporting exemption for the financial year.(4)For the purposes of paragraphs (1) and (2), a body corporate is a wholly owned subsidiary of another body corporate if it has only the following as members:(a)that other body corporate;(b)a wholly owned subsidiary of that other body corporate;(c)a nominee of that other body corporate or such a wholly owned subsidiary.