Procedure liquidating a company kenya

25-Jan-2020 04:39

To Wind up your Company or to shut down or close down a Company is commonly referred to as Winding Up or De-registration of a Limited Liability Company. You can choose to liquidate your limited company (also called ‘winding up’ a company).Our company registration services at Ecitizen business registration portal include , Form CR 8 – Notice of residential address of Director or change of Address of Director of Company, Form CR 7 – Notice of change of directors particulars, increase of Nominal Capital, List of directors CR 12, CR12 document Kenya, The new Companies Act under a Section 28 stipulates that unless the articles of a company specifically restrict the objects of the company, its objects are unrestricted.Therefore, under this Act a company has the power to pursue any object unless it is expressly disallowed under its Memorandum of Association.

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It is winding up following an order of the High Court to that effect.The Companies Act 2015, Section 711 (1) exempts small companies from the audit requirements. The law stipulates that a small company is the one whose turnover is not more than 50 million Kenya shillings and the value of its assets is not more than 20 million Kenya shillings and has less than 50 employees.The repealed Companies Act, had the minimum age for qualification for appointment as a director as 21 years of age.Notably, section 33 of the Act further stipulates that the validity of an act or omission of a company may not be questioned on the ground of lack of capacity as to a provision in the constitution of the company.In accordance with that provision , the conduct by a company of an object barred under the Memorandum of Association would be lawful.

It is winding up following an order of the High Court to that effect.

The Companies Act 2015, Section 711 (1) exempts small companies from the audit requirements. The law stipulates that a small company is the one whose turnover is not more than 50 million Kenya shillings and the value of its assets is not more than 20 million Kenya shillings and has less than 50 employees.

The repealed Companies Act, had the minimum age for qualification for appointment as a director as 21 years of age.

Notably, section 33 of the Act further stipulates that the validity of an act or omission of a company may not be questioned on the ground of lack of capacity as to a provision in the constitution of the company.

In accordance with that provision , the conduct by a company of an object barred under the Memorandum of Association would be lawful.

In accordance with the repealed Companies Act, companies limited by shares either public or private could issue share warrants.