Section 198 of The Companies Act No. 17 of 2015: Copy of qualifying indemnity provision to be available for inspection
(1) This section has effect if a qualifying indemnity provision is made for a director of a company and—
(a) applies to the company (whether the provision is made by the company or by an associated company); and
(b) if the provision is made by an associated company, also applies to that company.
(2) Except in so far as the regulations otherwise provide, the company, or each of the companies concerned, shall keep available for inspection at its registered office—
(a) a copy of the qualifying indemnity provision; or
(b) if the provision is not in writing, a written memorandum setting out its terms.
(3) A company to which this section applies shall retain the copy or memorandum for at least one year from the date of termination or expiry of the relevant provision and shall keep it available for inspection during that period.
(4) If a company fails to comply with subsection (2) or (3), 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.
(5) If, after a company or any of its officers is convicted of an offence under subsection (4), the company continues to fail to comply with the requirement referred to in subsection (2) or (3), 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.
(6) This section applies to a variation of a qualifying indemnity provision as it applies to the original provision.
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