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Notices & Publications
New Deadline for Updating Beneficial Ownership Registers
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....
Continue readingLANDLORD AND TENANT BILL 2021
The Landlord and Tenant Bill 2021 (“the Bill”) seeks to consolidate all the laws on residential and commercial tenancies and to ensure regulation of the rental sector in Kenya. It applies to both residential and business premises (with some exceptions) and proposes various provisions including establishment of tribunals, limits on...
Continue readingDRAFT NATIONAL INSURANCE POLICY
The Draft National Insurance Policy: Possible Review of the Insurance Legal Framework in Kenya - The National Treasury recently published the Draft National Insurance Policy (“Draft Policy”), dated March 2021, following a decline in the performance of the insurance industry in the recent years. The National Treasury notes the high...
Continue readingVALIDATION OF NAIROBI BLOCK 110 TITLE DEEDS
Validation of Nairobi Block 110 Title Deeds: Final chance for affected plot owners to verify their ownership details - The Ministry of Lands and Physical Planning (the “Ministry”) recently suspended land transactions involving Nairobi Block 110 title deeds following several complaints of fraudulent land transactions. The purpose of this suspension...
Continue readingINCREASE OF CAPITAL GAINS TAX (CGT)
The Finance Act, 2022 (“the Act”), published on 23rd June, 2022 introduced various changes to several statutes, amongst them, the Income Tax Act, Chapter 470 Laws of Kenya. Section 15 of the Act has amended Section 34(1)(j) of the Income Tax Act by increasing the tax on Capital Gains from...
Continue readingDERIVATIVE ACTION BY MINORITY SHAREHOLDERS
Derivative Action is a form of protection afforded by the existing legal regime to minority shareholders in a Company. The Companies Act, 2015 allows a member of a company to institute a legal action and/or seek remedy on its behalf. This remedy is available to minority shareholders who desire to...
Continue readingREGISTRATION OF DATA CONTROLLERS AND PROCESSORS
On 31st March 2022, the Office of the Data Protection Commissioner (ODPC) issued a press notice notifying the public that the Regulations on the Registration of Data Controllers and Processors will come into effect from 14th July 2022. The Regulations inter alia, set out the requirements and procedures for registration...
Continue readingPUBLICATION OF THE DRAFT CAPITAL MARKETS (PUBLIC OFFERS & LISTING OF SECURITIES) REGULATIONS, 2022
On 4th May 2022, the Capital Markets Authority (“CMA”) published the Draft Capital Markets (Public Offers & Listing of Securities) Regulations, 2022 (“draft Regulations”) inviting the general public and stakeholders for comments pursuant to section 12A (3) of the Capital Markets Act. The draft Regulations seek to repeal the existing...
Continue readingTHE SECTIONAL PROPERTIES ACT 2020: ITS SALIENT FEATURES AND ITS EFFECT ON LONG-TERM LEASES
The Sectional Properties Act 2020 (“the current SPA”) was passed to address the challenges under the former Act and to align the law on sectional properties to the current land laws and the Constitution of Kenya. The salient features of the current SPA include: the requirement that owners of sectional...
Continue readingTHE CENTRAL BANK OF KENYA (DIGITAL CREDIT PROVIDERS) REGULATIONS 2022
On 21st March 2022, Central Bank of Kenya (CBK) issued a press notice notifying the public that the Central Bank of Kenya (Digital Credit Providers) Regulations, 2022 (the Regulations) are now operational. The Regulations were published via Legal Notice Number 46 of March 2022. The Regulations seek to address concerns...
Continue readingPREVENTION OF BRIBERY AND CORRUPTION IN PUBLIC AND PRIVATE ENTITIES
The office of the Attorney General published Guidelines to assist public and private entities in the Preparation of Procedures for the Prevention of Bribery and Corruption (“the Guidelines”). The Guidelines were published following the enactment of the Bribery Act, 2016 (“the Act”), and should be read together with the Act....
Continue readingPROPOSED CHANGES TO THE TAX APPEALS TRIBUNAL ACT, NO. 40 OF 2013
The Tax Appeals Tribunal (Amendment) Bill, 2021 (“the Bill”) proposes to make several changes to the Tax Appeals Tribunal Act (“the Act”). First, it introduces a timeline of 7 days from the date the decree or order was made by the Tribunal, within which an appellant can lodge an application...
Continue readingWHAT IS THE VOLUNTARY TAX DISCLOSURE PROGRAM?
The Voluntary Tax Disclosure Program (VTDP) was introduced by the Finance Act, 2020, as part of the changes made to the Tax Procedures Act (TPA). The VTDP is a program which allows taxpayers to voluntarily disclose any tax liabilities, which were previously undisclosed to the Commissioner of Domestic Taxes, for...
Continue readingLOWER ELECTRICITY COSTS: KPLC TO RENEGOTIATE WITH INDEPENDENT POWER PRODUCERS
President Kenyatta has directed KPLC to renegotiate existing contracts with Independent Power Producers (IPPs) with a view to lowering the tariffs payable by KPLC to IPPs. This follows a raft of recommendations by a presidential taskforce established in March 2021 to review Power Purchase Agreements (PPAs). The Ministry of Energy...
Continue readingCAN AN EMPLOYEE WITHDRAW A RESIGNATION LETTER?
As a general rule, an employee does not have the right to unilaterally withdraw his/her resignation. However, there are special circumstances where this rule does not apply. The High Court in Edwin Beiti Kipchumba v National Bank of Kenya Limited [2018] eKLR observed that the existence of special circumstances, such...
Continue readingTAXPAYERS TO PREPARE A SEPARATE ACCOUNT FOR DIFFERENT SOURCES OF INCOME
Section 15(7) of the Income Tax Act requires that a person who derives income from one or more specified sources submit a separate account and a separate computation in respect of each specified source. The Kenya Revenue Authority (KRA) published a notice on 22nd September, 2021 informing the public of...
Continue readingTHE HIGH COURT DECLARES MINIMUM TAX UNCONSTITUTIONAL
On 20th September 2021, the High Court of Kenya ruled that the amendment to section 12D of the Income Tax Act which introduced minimum tax, is unconstitutional. Minimum tax was introduced under the Finance Act, 2020 to be charged at the rate of one per cent (1%) of the gross...
Continue readingCHANGES MADE TO THE INSURANCE ACT BY THE FINANCE ACT, 2021
The Finance Act, 2021, which came into force on 29th June, 2021, introduced some amendments to the Insurance Act. The definition of the term “broker “has been redefined in the Insurance Act, Chapter 487 of the Laws of Kenya (“the Act”) to include foreign reinsurance brokers who do not have...
Continue readingEMPLOYEES ON PROBATION SUBJECT TO SUBSTANTIVE PROCEDURAL REQUIREMENTS
The Employment and Labour Relations Court recently declared that section 42 (1) of the Employment Act, 2007, in so far as it excludes an employee holding a probationary contract from the provisions of Section 41 of the Employment Act, is unconstitutional. The latter provision of the law requires formal notification...
Continue readingPARENTAL RESPONSIBILITY OVER CHILDREN TO VEST EQUALLY IN BOTH PARENTS IN PROPOSED CHANGES TO THE LAW
Parental Responsibility over children to vest equally in both parents in proposed changes to the law - The Children (Amendment) Bill, 2020 (“Bill”) seeks to amend the Children Act (“Act”) by vesting equal responsibility for parental care and protection of a child in both parents of that child. Further, the...
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Waiyaki Advocates. Lex Secretarial LLP is looking for professionals to provide
secretarial services to its clients both listed and unlisted companies, local and foreign
private companies, branches of foreign companies and other private and public sector
entities and organizations.
We seek an Assistant Company Secretary to perform the following roles:
- Preparation and issuance of notices for Board and Shareholders’ meetings.
- Attendance of Board and Shareholders’ meeting.
- Preparation and distribution of minutes.
- Preparation and filing of all necessary company returns, forms and notices.
- Sealing of documents and maintaining a seals register.
- Maintenance of the company’s statutory books.
- Conduct of governance audits and board evaluations.
- To perform any other task that may be assigned from time to time.
The candidate should have the following qualifications:
- Should be a member of the Institute of Certified Secretaries in good standing.
- A first degree or a governance auditor accreditation would be an added
advantage. - Should have at least 3 years company secretarial experience in a busy medium to
large size firm.
The candidate should have the following competencies:
- Excellent written and oral communication skills.
- Ability to engage with executives at a senior level.
Please send your application by 13th September 2024 to recruitment@lexgroupafrica.com
