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Registered Office Clause:
Section 5(1) (b) provides that the memorandum of association shall state that "the registered office of the company is to be situate in Kenya". The situation of the registered office in Kenya fixes the company's nationality as Kenyan and its domicile as Kenya, though not its residence. Residence is decided by ascertaining where the company's centre of management and control is. Thus a company may be resident in a number of countries where it has several centres of control in different countries. The residence of a company is important in connection with its liability to pay Kenya taxation.
Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w
Types of Capital: A company's capital at any given moment may consist of: a) NOMINAL OR AUTHORISED CAPITAL This is the capital that is stated in the memorandum of a
Dissolution by the Court Conversely Section 39 of the Act prescribes the state of affairs that the court will decree the compulsory dissolution about a partnership. They are: li
Reduction of Capital: 4.1 The general rule is that it is illegal for a company to reduce its capital. This is so because such a reduction would be tantamount to reducing
Deferred Debts - Disclaimer of assets: Deferred Debts: A debt owed to a member as member, i.e. an unpaid dividend, is a deferred debt paid only when ordinary debts have b
X Co. is a retail dealer of garden tractors. Mr. Y signs a contract to buy a garden tractor for $400 but later backs out of the agreement. The tractor that Y agreed to buy is subse
Directors Powers: Equity regards directors as holding their powers on trust for the company. They can only exercise those powers for the benefit of the company, otherwise the
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Challenging an Arbitral Award Conversely a party dissatisfied through an arbitral award any challenge that it in the High Court and the High Court might set it aside whether i
OPPRESSION OF MINORITIES: 7.3.1 Section 211 of the Act provides that any member of a company who complains that the affairs of the company are being conduc
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