Last six types of company charges that require registration as outlined in the Companies Act of the Laws of Kenya

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.