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BENEFICIAL OWNERSHIP: NEED FOR DISCLOSURE OF BENEFICIAL OWNERS OF A COMPANY IN KENYA Section 93A of the Kenyan Companies Act 2015 has introduced a new development regarding updating the Beneficial Ownership of a Company. The Companies (Beneficial Ownership Information) Regulations, 2020 which came into force on 18 February 2020 provide further critical detail in connection…

DEFINITION A shareholders’ agreement is essentially a corporate pre-nuptial agreement. A shareholders’ agreement is, as you might expect, an agreement between the shareholders of a company. It can be between all or, in some cases, only some of the shareholders (like, for instance, the holders of a particular class of share). Its purpose is to protect the shareholders’ investment…

Registration of a Charitable Trust or Foundation in Kenya Black Law dictionary defines a Charitable Trust as One in which property held by a trustee must be used for charitable purposes (advancement of health, religion, etc.). Fiduciary relationship with respect to property arising as a result of a manifestation of an intention to create it,…

  Establishing an ESOP in Kenya AN EMPLOYEE SHARE OWNERSHIP PLAN An employee share ownership plan (ESOP) is a mechanism that enables and facilitates employee ownership in a company. Employee ownership schemes are an attractive form of giving employees an opportunity to participate in the ownership and decision making of their company. An employee share…

Registration of a Pension Scheme in Kenya DEFINITION A pension scheme is a type of retirement benefit scheme where at retirement, the contributions from both the employee and employer plus accrued interest are utilized to purchase a pension annuity from an insurance company/Approved Issuer with the provision that a member may take a maximum of…