By EDWIN OKOTHMore by this AuthorBeing a company director in Kenya may not be as "lucrative" should proposed amendments to the Companies Act come to pass. If any or extended family members does something that ends up hurting the company, a director will be held responsible. Blunders by their connections that hurt the company will be squarely laid on them, according to the proposed law. While the Company Act compels a director to declare any interest to the other directors on any transaction a company is involved in or any arrangement a company has entered into for only transactions that exceeds 10 per cent of the value of the assets of the company, the amendment seeks to lower the bar. Company bosses will also be required to make the declaration at an annual general meeting of the company or by notice given to the members within seventy-two hours.

Source: Daily Nation June 12, 2017 13:52 UTC