Related documents
- Is amended by 24th Annual Supplement

LAWS OF KENYA
COMPANIES ACT
THE COMPANIES (BENEFICIAL OWNERSHIP INFORMATION) REGULATIONS
LEGAL NOTICE 12 OF 2020
- Published in Kenya Gazette Vol. CXXII—No. 40 on 28 February 2020
- Commenced on 28 February 2020
- [Amended by Companies (Beneficial ownership Information) (Amendment) Regulations, 2022 (Legal Notice 32 of 2022) on 24 February 2022]
- [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]
- [Amended by The Companies (Beneficial Ownership Information) (Amendment) Regulations, 2023 (Legal Notice 162 of 2023) on 19 October 2023]
1. Citation
These Regulations may be cited as the Companies (Beneficial Ownership Information) Regulations.2. Interpretation
In these Regulations, unless the context otherwise requires—"Act" means the Companies Act (Cap. 486);"arrangement" refers to an artificial entity, without legal personality, associating one or more natural or legal persons together in an ownership or control relationship, but without implying that the parties to this arrangement have any other form of collective legal identity;"beneficial owner" means the natural person who ultimately owns or controls a legal person or arrangements or the natural person on whose behalf a transaction is conducted, and includes those persons who exercise ultimate effective control over a legal person or arrangement;"competent authority" means the Attorney-General, any criminal investigation agency established by law, law enforcement agencies, authorities that supervise and monitor the financial sector, including the Financial Reporting Centre and the Kenya Revenue Authority;"contracting authority" has the meaning assigned to it under the Public Private Partnership Act (Cap. 430).“designated non-financial businesses or professions” has the meaning assigned to it under section 2 of the Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A);“family” means—3. Beneficial owner particulars
4. Company's duty to investigate and obtain beneficial owner particulars
4A. Nominee shareholder and nominee director
5. Warning notice
A company shall issue a warning notice to a person who fails to comply with the provisions of regulation 4 and keep a copy of the warning notice in its register of beneficial owners.6. Content of a warning notice
A warning notice issued under regulation 5 shall—7. Restriction
8. Content of a restriction
Where a company restricts the relevant interest of a person it shall notify the person affected by the restriction, in writing of the—9. Effect of restriction
The effect of a restriction issued under regulation 7 respect to a relevant interest is as follows—10. Withdrawal of the restriction
11. Identification
12. Offence
A person who discloses beneficial ownership information in any manner other than for the purpose for which such information is obtained commits an offence and shall be liable upon conviction to a fine not exceeding twenty thousand shillings or to imprisonment for a period not exceeding six months, or to both.[L.N. 162 of 2023, r. 6.]13. Disclosure by the company
14. Disclosure by the Registrar
15. Publishing beneficial ownership information
Beneficial ownership information shall not be made available to the public or be published, except—16. Data protection
The publication or disclosure of the beneficial ownership information under these Regulations shall not include protected personal identifiable information, except where such disclosure is made to a competent authority or pursuant to a court order.[L.N. 162/2023, r. 8.]17. Material Discrepancy Reporting
History of this document
19 October 2023 this version
31 December 2022
Revised by
24th Annual Supplement
Read this version
24 February 2022
28 February 2020
Cited documents 6
Act 6
1. | Companies Act | 1559 citations |
2. | Tax Procedures Act | 1286 citations |
3. | Public Procurement and Asset Disposal Act | 352 citations |
4. | Proceeds of Crime and Anti-Money Laundering Act | 317 citations |
5. | Prevention of Terrorism Act | 110 citations |
6. | Public Private Partnerships Act | 10 citations |