Section 372 of The Companies Act No. 17 of 2015: Copy of report to be lodged with Registrar
(1) A company to which a report is made under section 368 as to the value of any consideration for which, or partly for which, it proposes to allot shares shall lodge a copy of the report to the Registrar for registration.
(2) The company shall lodge the copy at the same time as it lodges the return of the allotment of those shares under section 333.
(3) If a company fails to lodge a copy of a report with the Registrar as required by subsections (1) and (2), 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 two hundred thousand shillings.
(4) If, after a company or any of its officers is convicted of an offence under subsection (3), the company continues to fail to lodge the requisite copy of the report, 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 twenty thousand shillings for each such offence.
(5) If a company has failed to lodge with the Registrar a copy of a report as required by subsections (1) and (2), the company or any of its officers may apply to the Court for relief.
(6) If, on the hearing of an application made under subsection (5), the Courtis satisfied—
(a) that the omission to lodge the copy was accidental or due to inadvertence; or
(b) that it is just and equitable to grant relief, it may make an order extending the time for delivery of the copy for such period as it considers appropriate.
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