Type of companies under the Kenyan Companies Act 2015

Type of companies under the Kenyan Companies Act 2015

Type of companies under the Kenyan Companies Act 2015 Under Kenyan law, companies can be classified into two main categories: The key difference lies in the extent of liability the members (shareholders or guarantors) bear for the company’s debts. 1. Unlimited Companies In an unlimited company, members have no limit to their liability. They are jointly and personally responsible for paying…

Company Limited by Guarantee in Kenya

When establishing a Public Benefit Organization, formerly Non-governmental Organization, individuals have the option to register it either as a company limited by guarantee (CLG) or as a public benefit organization. The distinction between the two is in the fact that a company limited by guarantee is permitted to engage in non-profit trading activities. Any profits…

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Understanding Trusts in Kenya

A trust is a fiduciary arrangement that creates a relationship between the natural/ legal person transferring property i.e. settlor, the person who holds the property on behalf of a third party i.e. the trustee, and the third party who receives the property i.e. beneficiary. Trusts can be  unincorporated or incorporated and the difference between the…

WHO IS A COMPANY SECRETARY?

WHO IS A COMPANY SECRETARY (CS)?

It is a common experience for Company secretaries to be asked whether the Certified secretary course entails the role of a traditional secretary which involves performing clerical tasks such as answering phones, scheduling appointments, etc. However, this is not the position since CSs have a different set of responsibilities that require a unique skill set.…