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(1) The High Court, on application made ex parte by the Cabinet Secretary or, where a manager or liquidator has been appointed by the Central Bank, may, if it considers it to be in the interests of the depositors of an institution, make an order—(a) prohibiting the institution from carrying on business; or(b) staying the commencement or continuance of any actions or proceedings against the institution in regard to any business for a specified period of time on such terms and conditions as it considers reasonable, and may from time to time extend the specified period up to a total of six months from thebeginning of the stay.(2) So long as an order under paragraph (a) of subsection (1) remains in force, the licence granted to the institution under this Act shall be deemed to be suspended.
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(1) A person who is an officer of an institution shall cease to hold office and shall not thereafter be eligible to hold office in any institution if he— (a) becomes bankrupt or suspends payment or...
Where any institution or other person contravenes any of the provisions of this Act— (a) if it is a body corporate, it shall be guilty of an offence and liable to a fine not exceeding one hundred...
(1) Any officer of an institution who— (a) fails to take all reasonable steps to secure the compliance of the institution with this Act; or (b) fails to take all reasonable steps to secure the...
(1) Any institution or other person who issues any advertisement, brochure, circular or other document inviting any person to make a deposit which— (a) falsely represents that he is authorized to...
(1) For the avoidance of doubt, no contravention of the provisions of this Act or the Central Bank of Kenya Act (Cap. 491) shall affect or invalidate in any way any contractual obligation between an...
(1) Subject to subsection (2), where there is a conflict between the provisions of this Act and the provisions of any other written law applicable to an institution licensed under this Act, the...
(1) The Cabinet Secretary may, by notice in the Gazette, exempt an institution from the provisions of section 12, 13 or 14 subject to such conditions as the Cabinet Secretary considers necessary. (2)...
(1) This Act does not apply to— (a) the Kenya Post Office Savings Bank established under the Kenya Post Office Savings Bank Act (Cap. 493B); (b) the Agricultural Finance Corporation established...
All persons subject to this Act shall enjoy all rights and fundamental freedoms enshrined in the Constitution unless limited to the extent specified in Article 24 of the Constitution, this Act or any...
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(1) The Central Bank may make regulations generally for carrying out the purposes and provisions of this Act. (2) Without prejudice to the generality of subsection (1), the Central Bank may, in...
(1) The Banking Act (No. 56 of 1968) is repealed. (2) Notwithstanding subsection (1), whereupon the commencement of this Act any bank or financial institution is licensed to transact banking business...
The several written laws specified in the first column of the Second Schedule are amended, in relation to the provisions thereof specified in the second column, in the manner specified in the third...