Section 494, The Companies Act, 2009

(1) The Commission may make regulations for thepurpose of giving effect to the provisions of this Part and may, in particular, make regulations– (a) prescribing the forms for returns and other information required under this Part; (b) requiring returns to be made, within a specified time, if any, by any company or enterprise to which this Part applies; (c) prescribing the procedure and criteria for approval of mergers, acquisitions, take-overs, amalgamations and business combinations under this Act; (d) prescribing any fees payable under this Part; (e) prescribing the formula for the calculation of the price at which securities may be bought or sold; or (f) prescribing the information to be contained in any prospectus or trust deed filed under this Part. (2) Any regulations made pursuant to subsection (1) may, where appropriate prescribe penalties not exceeding a fine of Le500,000 for each day during which a default continues, or imprisonment for a term not exceeding 6 months or both the fine and imprisonment for any contravention of any of the regulations. (3) This section shall not apply to any company whose shares are listed on the stock exchange under any enactment regulating securities. Invitations to the public