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...
Introduction The Cabinet Secretary for Information, Communication, Technology, Innovation and Youth Affairs issued regulations under the Data Protection Act, 2019 (the “Act”) for public participation and consultation. The regulations issued are the draft Data Protection (General) Regulations, 2021 (the “Draft General Regulations”); the draft Data Protection (Compliance and Enforcement) Regulations, 2021 (the “Draft Compliance Regulations”);...
The enactment of the Public Private Partnerships Act (No. 15 of 2013, Laws of Kenya (the “Act”) provided the participation of the private sector in the financing, construction, development, operation and maintenance of infrastructure projects of the government. The Act brought much-needed improvement and haste in the completion of infrastructure projects. The Act was lauded...
The Business Laws (Amendment) (No.2) Act (“the Act”) was assented to by the President and commenced on March 30, 2021. The Act amends various statutes to facilitate the ease of doing business in Kenya. Below is a summary of the salient changes brought about by the Act.
The regulations seek to amend provisions of the Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 and the Retirement Benefits (Umbrella Retirement Benefits Schemes) Regulations, 2017.
The Competition Authority of Kenya (“CAK”) has published draft Guidelines (the “Guidelines”) on Joint Ventures (“JVs”) to provide clarity and certainty on the competition regulatory framework in respect of JVs.
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