Section 886 of The Companies Act No. 17 of 2015: Holder of floating charge to lodge with Registrar notice of appointment and cessation of appointment of administrator of company
(1) A holder of a floating charge on a company's property or undertaking who
(a) obtains an order of the Court for the appointment of an administrator in respect of the company; or
(b) appoints such an administrator under powers contained in a document, shall, within seven days after obtaining the order or making the appointment, lodge a notice of the order or appointment with the Registrar for registration in the relevant register.
(2) Within seven days after a person appointed as an administrator in respect of a company under powers contained in a floating charge ceases to act as such, the holder of the charge shall lodge a notice of the cessation with the Registrar for registration in the relevant register.
(3) A person who fails to comply with subsection (1) or (2) commits an offence and on conviction is liable to a fine not exceeding two hundred thousand shillings.
(4) If, after being convicted of an offence under subsection (3), a person continues to fail to lodge with the Registrar a notice of the relevant order or appointment, or of the cessation of appointment, the person commits a further offence on each day on which the failure continues and on conviction is liable to a fine not exceeding ten thousand shillings for each such offence.
(5) If, in relation to subsection (2), the floating charge has been discharged at the time when the administrator ceased to act as such, the reference in that subsection to the holder of the floating charge is a reference to the person who was holder of the charge when it was discharged.
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