Month: February 2021

THE COMPANY SECRETARY Any company, other than a small private company shall have one or more employees who shall be designated as Company Secretary Article 219 as modified by Law 14/2010 of 07/05/2010 The Company Secretary to replace the Employee Read More …

MANAGEMENT OF COMPANIES Although all the shareholders have equal rights in the company it is obvious that they cannot together participate in its management except where there are a few (two or three) shareholders. They are, therefore, obliged to entrust Read More …

CLASSIFICATION OF MEETINGS There are 3 types of meeting The Constituent meeting The Annual Meeting (historically known as the Annual General Meeting or AGM) Special Meeting of Shareholders (historically known as an Extra-ordinary General Meeting or EGM) CONSTITUENT ORDINARY MEETING Read More …

CLASSES OF SHARES Shares in a company may : be redeemable; confer preferential rights to distributions of share capital or income; confer special, limited, or conditional voting rights; 4.  not confer voting rights. .ISSUE AND ALLOTMENT Upon registration of the Read More …

BECOMING A MEMBER The shares can be purchased if a promoter invites a prospective member through a private invitation – for a private company – or through the public advertisement of the prospectus for a public limited company. . REGISTER Read More …

DEBENTURES Public limited companies have the power to borrow money necessary for their operations by issuing debt securities (debentures). Unlike shares debentures do not create an ownership interest in the company. They create a debtor- creditor relationship. Accordingly, the company’s Read More …

.  SUBSCRIPTION OF SHARE CAPITAL Subscription is the acceptance by the subscriber of the offer to subscribe for shares made by the promoters or their agents (usually a bank). By subscribing the subscriber promises to take up the number of Read More …

The partnership agreement, Memorandum of Association  or Articles of Association must be drawn up and or signed by a notary or witness – see Appendix 1.. From the foregoing it is evident that the contract establishing the commercial company must Read More …

COMPANY LAW   The expression “company law” may be defined as a branch of law governing the companies. It deals with all aspects relating to companies, such as incorporation of companies, allotment of shares and share capital, memberships in companies, borrowing Read More …

Tax and EAC Under EAC Law, business people will continue to pay VAT, Consumption Tax and Withholding Tax on goods originating from EAC Partner States. East African Community (EAC) Member states have begun implementing the Common Market Protocol. This means Read More …