Company dissolution in kenya

Dissolution, also known as winding up, is the process of terminating a company’s existence in a country like Kenya. It involves filing necessary documents with the Companies’ Registrar to officially end the company’s legal existence. This is typically done when the company has no debts and the directors decide to cease operations.

Key aspects of company dissolution in Kenya:

• Special Resolution:

Directors must pass a special resolution to formally dissolve the company.

• Application to Registrar:

An application is submitted to the Registrar of Companies, along with the resolution, minutes of the meeting, and outstanding company returns.

• Gazette Notice:

The Registrar publishes a notice in the Kenya Gazette, inviting anyone to object to the dissolution within a specific timeframe.

• Removal from Register:

If no objections are raised, the company’s name is removed from the register of companies, officially ending its existence.

• Pre-Dissolution Actions:

If the company has debts or assets, it may need to undergo a liquidation process before dissolution.

• Deregistration:

While both deregistration and dissolution terminate a company’s existence, the liability of directors and officers may continue after deregistration, but ceases upon dissolution.

Reasons for Dissolution:

• Ceasing operations.
• Fulfilling the company’s objectives.
• Becoming dormant and the annual statutory filings becoming burdensome.
• The directors’ decision to end the company, particularly when it has no debts.

 

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