Change in corporate laws in Kenya welcome

On September 11th, 2015 President Uhuru Kenyatta assented to the Companies Act 2015, and set the Kenyan record for adopting the most voluminous law in the country. The Act comprises 1022 pages and has 1026 sections. It repeals the antiquated Act of 1948 having 46 sections and 571 pages.

The preamble to the Act boasts that the new legislation is aimed at consolidating and reforming the law relating to incorporation and requisition; operation, management and regulation of Companies and to provide for appointment and functions of auditors.