Robert Mbui

All parliamentary appearances

Entries 851 to 860 of 970.

• 29 Jul 2015 in National Assembly: Once businesses are set up, it sometimes becomes necessary to make amendments to the articles of association; but this law insists that when you want to make amendments they must be lodged with the Registrar within 14 days, failing which it will be an offence and there will be a penalty exceeding Kshs200,000. I feel that this is a law that will protect members because we know that there are unscrupulous directors who can make changes and amendments and implement. For them to be implemented properly, they will need to be lodged with the Registrar; that will mean that all ... view
• 29 Jul 2015 in National Assembly: Companies also pass resolutions in the operation of their businesses. The kinds of resolutions that are made are different types. There are special resolutions. There are resolutions on shareholding; in other words the number of shares an individual can have or what types of shares the company can have. There are resolutions to give, vary, revoke or renew authority for officers of a company. There are resolutions for voluntary liquidation and then there is a resolution to transfer securities. These resolutions once passed by any company must be lodged with the Registrar. That in essence protects members from any unscrupulous ... view
• 29 Jul 2015 in National Assembly: This Bill will go a long way in ensuring that members of companies are protected from any loss of funds because the protection mechanisms are very high. A lot of the business of the company will be lodged with the registrar, so that at all times everybody in the company will be aware of what will be going on. view
• 29 Jul 2015 in National Assembly: There is a clause that deals with the naming of companies. This is an area we all know there has been an issue because we have had court cases in this country and abroad where individuals and companies were fighting over names that were very similar, or were actually the same. In the past, we have seen situations where just a letter in a name or dash created two different companies. The law now proposes that once a company makes an application for a name they will be given 30 days. After the 30 days they will be allowed to ... view
• 29 Jul 2015 in National Assembly: Sometimes bad publicity is good publicity. We have then to protect the names that people can use in their companies. People can use offensive names that may be attractive to the wrong people and make business out of it. I do not support the use of that name though I have given it as an example. The other ones are protected names. There are those names that are connected with State organs, county governments and public authorities. If these names are allowed to be used in the registration of private companies for personal use, chances are that the unsuspecting public ... view
• 29 Jul 2015 in National Assembly: The regulations may permit or prohibit the use of certain characters, signs and symbols. This is for obvious reasons so that we ensure that there is no repetition and some of them may not turn out to be offensive. This law is going to give us abbreviations for use to recognise companies that are going to be registered in this country. The abbreviation “PLC” will stand for “Public Limited Company”. So, when you see a company having that abbreviation, you will easily know that it is a Public Limited Company. The abbreviation “LTD” will be for “Private Limited Companies”. Basically ... view
• 29 Jul 2015 in National Assembly: Similarities of names are not allowed in this law. So, the names that are to be registered are names that are not the same as any other in the index. This will go a long way in ensuring that the court cases we have had in the past will also become a thing of the past. view
• 29 Jul 2015 in National Assembly: The power of registration lies with the Registrar. The Registrar is allowed to make a company change its name, for example, when the name suggests that the nature of the company’s activities are misleading and are likely to cause harm to the public. I have looked at the way many businesses operate. One of the common term people use in their companies is “Enterprises”. You can imagine a situation where a company is registered as auto but it sells clothes or it is registered as a construction company but it offers training. This Bill is going to bring sanity because ... view
• 29 Jul 2015 in National Assembly: I want to address the issue of regulation of these companies. It is important to ask ourselves who the members of the companies are. This is the question that is asked many times and it is not very clear. The Bill defines members as subscribers to the memorandum and articles of association. They become members upon registration of these companies. Companies are also forced to keep a register of these members so that they can be open for scrutiny. The information they give relates to the names and addresses, the date of registration as members, the date the person stopped ... view
• 29 Jul 2015 in National Assembly: In this Bill, people have a right to inspect the register of members. This right can be extended to any of the members at no fee and to anybody else that is interested in knowing who the members are at a predetermined fee. The only thing is that there have to be conditions for this information to be given. The law states that the people who seek information about membership in a company must give their names and addresses. If they represent companies, they should give their names and addresses and the names and addresses of the companies they represent. ... view