Introduction The Central Bank of Kenya (Amendment) Act (the “Amendment Act”) was assented into law on December 07, 2021. Its effective date was December 23, 2021. Its principal objective is to regulate and bring the provision of credit or loan facilities through digital channels under the supervision of Central Bank of Kenya (CBK). Rationale With...
Introduction The Public Private Partnership Act, 2021 (the Act) which came into effect on December 23, 2021 provides for the participation of the private sector in the financing, construction, development, operation or maintenance of infrastructure or development projects through public private partnerships. The objects of the Act include: To prescribe procedures for participation of the...
If you thought KN Law LLP is made up only of smart legal minds obsessed with pragmatic solutions for our clients, then buckle up for a pleasant culinary surprise. In a sheer demonstration of the abundance of diversity of skills that we have come to expect from our legal eagles, the Real Estate team put...
In an award ceremony on the 7th of December 2021 that was graced by Lady Justice Martha Koome, Chief Justice of the Republic of Kenya, KN Law LLP—represented by our partner Mugambi Muriithi—feted Ms. Fenan Estifanos Tesfai as the Best Commercial Law Student for 2021. The Strathmore Law School Annual Student Awards, which also happened to be...
Introduction The Cabinet Secretary for Lands and Physical Planning has gazetted the Sectional Properties Regulations, 2021 (“the Regulations”). Their objective is to operationalise the Sectional Properties Act, 2020 (“the Act”). The Act covers ownership of units in a building such as offices, apartments, flats, and townhouses. We summarize below the key provisions of the Regulations....
Introduction The Guidelines on Share Buybacks for Listed Companies published in the Kenya Gazette on November 12, 2021 provide the framework for implementation of Part XVI of the Companies Act 2015 by listed companies. Section 447 of the Companies Act allows limited companies to acquire their own shares, provided certain conditions are met. The shares...
Introduction The Cabinet Secretary for National Treasury and Planning has through Legal Notices Numbers 163, 164, and 165 of 2021 made changes to the regulations in respect of Individual Pension Plan Schemes (“IPPS”), Occupational Retirement Benefits Schemes (“ORBS”), and Umbrella Retirement Benefits Schemes (“URBS”). We analyse the changes below. Common Changes Where a retirement benefit...
Introduction The Business Registration Service (“BRS”) published for public consultation several bills in an effort to address current legislative gaps and harmonise the business regulatory framework. The bills published were the Insolvency (Amendment) Bill, 2021; the Hire Purchase (Amendment) Bill, 2021; the Companies (Amendment) Bill, 2021; the Registration of Business Names (Amendment) Bill, 2021; the...
Introduction In June 2021, the Competition Authority of Kenya (CAK), gazetted the Retail Trade Code of Practice (the “Retail Code”). The Retail Code is intended to address buyer power abuse issues specific to the retail industry. CAK is empowered by the Competition Act, 2010 (the “Act”) to require vulnerable industries or sectors to adopt a...
Introduction On April 20, 2021, the Competition Tribunal (“the Tribunal”) delivered a key decision in Majid Al Futtaim Hypermarkets Limited vs Competition Authority of Kenya and Orchards Limited (the “Carrefour Decision”). Two months later, the Competition Authority of Kenya (CAK) gazetted the Retail Trade Code of Practice (the “Retail Code”). These two developments shape how...
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