Section 926 of The Companies Act No. 17 of 2015: Court order sanctioning compromise or arrangement
(1) If a majority in number representing seventy–five percent in value of—(a) the creditors or class of creditors; or
(b) the members or class of members, present and voting either in person or by proxy at the meeting convened in accordance with section 923 agrees to a compromise or arrangement, the Court may, on an application under subsection (2), sanction the compromise or arrangement.
(2) An application for an order under subsection (1) may be made by—
(a) the company;
(b) any creditor or member of the company; or
(c) if the company is in liquidation or under administration — the liquidator or administrator.
(3) A compromise or agreement sanctioned by the Court is binding—
(a) on all creditors or the class of creditors, or on the members or class of members, concerned; and
(b) on the company or, in the case of a company that is in liquidation — the liquidator and contributories of the company.
(4) The order of the Court has no effect until a copy of it has been lodged with the Registrar for registration.
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- Section 932 - Relationship of this Part to Part XXXIV
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- Section 934 - Draft terms of scheme for proposed merger
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- Section 935 - Draft terms of proposed merger to be published
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(2) A report complies with this subsection if it includes—
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- Section 938 - Merging companies to arrange for preparation of experts’ reports
(1) The directors of the merging companies may jointly appoint an expert on behalf of those companies to prepare a written report on the draft terms for presentation to the members of each of those...
- Section 939 - Supplementary financial statement for merger in certain cases
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- Section 940 - Members of merging companies entitled to inspect merger documents
(1) The members of each of the merging companies are, during the relevant period entitled—
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by an ordinary resolution of the transferor company;...
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(2) If a person holds securities to which this section applies otherwise...
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(1) This section applies to a merger by absorption if all of the relevant securities of—
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- Section 948 - Introductory: companies and involvement of companies in division
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- Section 949 - Draft terms of scheme to be prepared and adopted in relation to division
(1) The directors of each company involved in a division shall prepare and adopt a draft of the proposed terms of the scheme.
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- Section 950 - Draft terms relating to division to be published
(1) The directors of each company involved in the division shall lodge a copyof the draft terms with the Registrar for registration.
(2) As soon as practicable after receiving from the company a copy...
- Section 951 - Approval of members of companies involved in division
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- Section 952 - Directors to prepare explanatory report in relation to division
(1) The directors of the transferor company and each existing transferee company shall prepare and adopt a report that complies with subsection (2).
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- Section 953 - Expert’s report to be prepared for each company involved in division
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- Section 955 - Members of companies involved in division entitled to inspect certain documents
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- Section 959 - Allotment of shares to transferor company (or its nominee) prohibited
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- Section 962 - Members of companies involved in division can agree to dispense with reports, etc
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- Section 963 - Power of the Court to exclude certain requirements in the case of division
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- Section 978 - Registrar to issue certificate of compliance on change of name of registered foreign company
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(1) The Registrar may not register a foreign company under this Part unless the company has at least one local representative in relation to whom the foreign company has complied with the prescribed...
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(1) Within one month after a registered foreign company has appointed a person as a local representative of the company in Kenya, the company shall lodge with the Registrar for registration a notice...