Section 93A of The Companies Act No. 17 of 2015: Company to keep register of beneficial owners

    

(1) Every company shall keep a register of its beneficial owners.
(2) A company shall enter in its register of beneficial owners, information
relating to its beneficial
owners as prescribed in the regulations.
(3) A company shall lodge with the Registrar a copy of its register of beneficial
owners, within thirty days after completing its preparation.
(4) A company other than a public listed company shall lodge with the Registrar
a copy of any amendment to its register of beneficial owners within fourteen days
after making the amendment.
(5) If a company fails to comply with a requirement of this section, the company,
and each officer of the company who is in default, commit an offence and on
conviction are each liable to a fine not exceeding five hundred thousand shillings.
(6) If, after a company or any of its officers is convicted of an offence
under subsection (5), the company continues to fail to comply with the relevant
requirement, the company, and each officer of the company who is in default,
commit a further offence on each day on which the failure continues and on
conviction are each liable to a fine not exceeding fifty thousand shillings for each
such offence.


Disclaimer: This document is not to be taken as legal advise.

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