Section 496 of The Companies Act No. 17 of 2015: Duty of company as to issue of certificates etc. on allotment
(1) A company shall, within two months after the allotment of any of its shares, debentures or debenture stock, complete and have ready for delivery—
(a) the certificates of the shares allotted;
(b) the debentures allotted; or
(c) the certificates of the debenture stock allotted.
(2) Subsection (1) does not apply if the conditions of issue of the shares, debentures or debenture stock provide otherwise.
(3) If a company fails to comply with subsection (1), 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.
(4) If, after a company or any of its officers is convicted of an offence under subsection (3), the company continues to fail to complete and have ready for delivery the documents to which subsection (1) applies, 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.
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