Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Competing take-overs in Kenya are regulated by the Capital Markets (Take-overs and Mergers) Regulations, 2002 (the Regulations). The Regulations provide for rules to ensure equitable treatment of shareholders, particularly minorities during take-over and mergers for a fair and transparent process.
Earlier this year, Kenyans marched to the streets in all parts of the country to protest aggressively against high taxation imposed on them by the introduction of the Finance Bill, 2024. The protests aimed to amplifying the citizens’ voices in rejecting high taxation on both goods and services and especially essential services. Less than a year down the line, Kenyans are grappling with a similar issue – the implementation of the Social Health Insurance Act (SHIA) of 2023 (the Act).
New proposals in the Business Laws (Amendment) Bill, 2024 published on 1st November, 2024 seek to regulate non-deposit taking institutions under both the Microfinance Act and the Central Bank of Kenya Act (“CBK Act”). The proposed amendments to the CBK Act aim to expand the definition of digital credit providers (“DCPs”) to include non-deposit taking microfinance banks.
The issue of Beneficial Ownership Registers has come up once again. Companies have up to 30th November 2024 to update their Beneficial Ownership Registers or risk facing the consequences for non-compliance. The Beneficial Ownership Register was introduced by the Companies Act 2015 and the Companies (Beneficial Ownership Information) Regulations 2020. The said Act and Regulations make it an offence for a company, and every officer of that company, to fail to comply with this requirement.
The outbreak of coronavirus (COVID-19) has been declared a global pandemic by the World Health Organization (WHO) and its impacts are being felt in many sectors, including the transport, manufacturing, sports, tourism and gaming industries. In Kenya, the first case was confirmed on Friday Morning. Countries have adopted various measures to curb the spread of the virus and these measures are negatively affecting ongoing business contracts and projects. Governments in theaffected have been issuing travel restrictions with others issuing directives for complete lock downs.
A hangar is a large building that is used for the storage of aircraft. Leasing of hangars is a common practice within the aviation industry. It is a facility that is highly significant to aviation operators since it reduces their cost of security. Kenya does not have specific laws governing hangars, and they mostly fall under the ambit of land law.
The Business Laws (Amendment) (No. 2) Act, 2021 (the “New Act”) was passed on 30th March, 2021. Its main purpose is to facilitate the ease of doing business in Kenya by reducing the costs and time spent on various transactions.
John C. Maxwell wisely cautions that “Change is Inevitable and Growth is Optional”. This is evident in Estate Planning where one of the most frequent questions is “what happens to my Will if things change, or if I change my mind?”.
In the unfortunate demise of an individual, there are various rights that accrue to different persons depending on the relationship between that person and the deceased. For example, wives and children of the deceased will be considered ‘automatic’ beneficiaries/heirs of the deceased and they will not need to prove their dependency on the deceased. This is contrasted to persons like parents of the deceased whose beneficiary status is not automatic, that is, they have to prove their dependency on the deceased immediately before his/her demise. Because of the ‘automatic’ status of the wife/wives and children of the deceased, it is usually assumed that their rights over the property of the deceased are superior to the rights of any other potential beneficiary.
Currently, the Competition Act of Kenya 2010 (‘the Act”) and the Consolidated Guidelines on the Substantive Assessment of Mergers under the Act (“Consolidated Guidelines”) only require notification of joint ventures if they are full – function and if they meet the required thresholds. Until recently, there were no guidelines and/or rules that specifically addressed joint ventures.
