Last six types of company charges that require registration as outlined in the Companies Act of the Laws of Kenya
ANSWER
Circumstances in which a company may issue bonus shares:
• There must be authority in the articles.
• It must be authorised an ordinary resolution of members in general meeting.
• It must be recommended the board and approved the general meeting.
• Bonus issues can be financed reserves or share premium account.
• Its nominal share capital must be sufficient.
• A return of allotment must be delivered to the Registrar within one month of allotment.
• Must be issued in the proportion prescribed the articles.