By Legal Notice No. 240 of 2017, the Attorney General gazetted the Companies (General) (Amendment) Regulations 2017. The Regulations came into effect on 15th September 2017.

The Regulations amend the Companies Act 2015 and the Companies (General) Regulations 2015 by including new Section 50A to the Companies Act and a Tenth Schedule to the 2015 Regulations which outlines significant disclosure and reporting requirements in relation to the remuneration and compensation of directors of listed companies.

Details of what Kenyan listed companies pay their executives are expected to become clearer with the new Regulations requiring publicly listed entities to prepare a directors remuneration report which discloses directors’ remuneration and the basis of such payments. The report shall be included in the annual financial statement of a listed company.

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