Kenya Association of Manufacturers has partnered with Kenya Magistrates and Judges Association (KMJA) to develop the Companies Law Guide Book, which aims to provide a summary of the voluminous Companies Act 2015 and the Insolvency Act 2015.
Speaking at the signing ceremony, KMJA Chair, Lady Justice Jacqueline Kamau stated that the development of the Companies Law Guide Book will ease the process and increase the speed of determining cases on the Companies Act and the Insolvency Act.
‘This guide book is extremely essential to the effectiveness of the judiciary in solving commercial disputes. It will greatly support the judges and magistrates to expeditiously review the relevant provisions in the laws as they settle commercial cases,’ said Lady Justice Jacqueline Kamau.
The Government of Kenya recently overhauled the laws governing companies and insolvency through the enactment of the Companies Act, 2015, and the Insolvency Act, 2015 and subsequent Regulations.
If well implemented, the Companies Act, 2015, will make it easier for local and foreign investors to set up and run companies in Kenya.
Also speaking at the event, KAM CEO Ms Phyllis Wakiaga, reiterated that the Guide Book will assist in easy access to justice for business & foreign investors.
‘This kind of support from KMJA will ensure compliance in the private sector with Company Law requirements and will boost investor confidence. In addition to this, the Guide Book will enhance awareness on the provisions of the laws and provide an easy to read document on the environment of company law in Kenya,’ concluded Ms Wakiaga.
The Company Law Guide Book will be developed by KAM, KMJA and other key stakeholders and will be the second to be developed, after the Commercial Law Guide Book, 2017.