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The Guidelines on Share Buybacks for Listed Companies, 2021

November 22, 20210

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...

Real Estate and Conveyancing

The Urban Areas and Cities (General) Regulations, 2022

June 15, 20230

The Cabinet Secretary of Transport, Infrastructure and Urban Development published the Urban Areas and Cites (General) Regulations, 2022 (the “Regulations”) to operationalize the Urban Areas and Cities Act, 2011 (the “Act”). We highlight some of the key provisions below. Accreditation of Business and Neighbourhood Associations The Regulations provide for accreditation of business and neighbourhood associations...

Capital Markets

The Capital Markets (Investment-Based Crowdfunding) Regulations, 2022

April 20, 20230

Introduction The Capital Markets (Investment-Based Crowdfunding) Regulations, 2022 (the “Regulations”) have been gazetted. The Regulations enable start-ups and growing businesses to raise money from individuals or entities to either finance a project or business through crowdfunding platforms. We set out below a summary of the key highlights in the Regulations. Scope of the Regulations While...

Corporate and Commercial Law

Change to Allow Use of Pensions to Purchase Homes Quashed

January 10, 20230

A recent High Court decision[1] barred the withdrawal of pensions for purchasing residential houses. This had been introduced by the Tax Laws (Amendment) Act, 2020 which amended Section 38 (1A) of the Retirement Benefits Act (the RBA Act). These changes were made operational through the Retirement Benefits (Mortgage Loans) (Amendment) Regulations, 2020 (the Regulations). Section...

Real Estate and Conveyancing

Can the Small Claims Court Determine Rent Disputes?

December 14, 20220

Introduction Recently, the High Court found the Small Claims Court lacked jurisdiction to listen to rental claims. We analyse the decision in HC Commercial Appeal No. E036 of 2022, Lisa Kristine Christoffersen vs Kavneet Kaur Sehmi T/A The Random Shop. What happened? A landlord appealed against a finding by the Small Claims Court to the...

Corporate and Commercial Law

Changes To Capital Market Regulations

August 25, 20221

The Cabinet Secretary Finance recently gazetted the Capital Markets (Whistleblower Regulations) 2022 to give effect to the amendments to the Capital Markets Act (the Act) in 2018 by setting up a framework for the payment of rewards to whistleblowers. The amendments to the Capital Markets (Conduct of Business) (Market Intermediaries) Regulations 2011, will enhance access...

Real Estate and Conveyancing

Replacement Titles Following Land Title Conversion

August 10, 20221

Introduction The Ministry of Lands and Physical Planning published a list of titles within Nairobi County whose land reference numbers have been converted to new parcel numbers. Landowners of the listed titles can now apply for new titles on the Ardhi Sasa portal: https://ardhisasa.lands.go.ke. How can we help? Landowners This includes landowners of vacant land...

News

Thought Leadership: A case for Restructuring Insolvent Firms

August 4, 20220

On August 02, 2022, an article written by Emmanuel Mueke, Partner was published on the Business Daily making a case for restructuring insolvent entities. The article demonstrated how giving a second chance to insolvent businesses can be a win-win for all stakeholders of a business; from suppliers and creditors to employees and shareholders. To find...

Corporate and Commercial Law

Legislative Updates Round up: President Uhuru Kenyatta Assents to 4 Bills

June 2, 20220

On April 04, 2022 the President signed into law amendments to the Copyright Act, the Employment Act, the Kenya Deposit Insurance Act, and the Industrial Training Act. We discuss the important changes introduced below. Copyright (Amendment) Act, 2022 This amends the Copyright Act to provide for a revenue sharing formula for proceeds from Ring Back...

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