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Why businesses should pay attention to new commercial laws

Kenya has undergone major legislative changes in the past 10 years. New laws geared towards making the country the region’s trading hub have been enacted and implementation is expected to begin in earnest. To spur growth in the commercial sector, for instance, laws touching on business vehicles available have been enacted or updated. The developments are meant to take away some of the barriers that have made the country less competitive globally. Kenya is currently transitioning from a regime of archaic commercial laws to one that takes cognisance of contemporary trends. More recently, Parliament enacted the Limited Liabilities Partnership Act in 2011 and the regulations governing the Act were released in 2014. In 2015, the Companies Act and the Business Registration Services Act came into effect. A glimpse at these three Acts shows that the reforms have essentially covered all the possible business vehicles that one can incorporate to trade…