Contributed By MMC Africa Law
Limited Liability Company
A public LLC is required to have a company secretary; a private LLC will be required to have a company secretary if it has a share capital over of over KES5 million.
An LLC is required to hold an annual general meeting within six months of the day following its accounting reference date each year, and thereafter within three months of the end of its financial period.
A public LLC is required to have a minimum of four board meetings annually.
LLCs listed on the Nairobi Securities Exchange are required to comply with the code of corporate governance for listed companies.
Private LLCs are expected as a matter of best practice to comply with the code of conduct for private organisations.
If the company has share capital, it must file an annual return like any other limited liability company. If it has no share capital, it must file an annual return stating the address of the registered office.
If the register of members is not kept at the registered office, the address of the place where it is kept must be stated.
The particulars of the directors and the secretary are required to be kept in the register of directors and secretaries. Particulars of the total amount of the company’s indebtedness in respect of all charges are required to be registered.
Limited Liability Partnership
An LLP must:
Under the Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations, 2013 a REIT must have:
A REIT is required to keep proper books, records and accounts in respect of the fund and scheme in accordance with the law.
The manager is required to prepare, present to the trustee semi-annual and annual reports for the REIT and thereafter submit the reports to the CMA.
The trustee is required: