Section 52 of Sacco Societies Act CAP 490B: Powers of the Authority to intervene in management

(1) The Authority or any person officially authorized in that behalf by the Authority may, by notice in writing, require any person to furnish to the Authority or to the authorized person, within such...

(1) The Authority may establish and operate an electronic filing system for the purposes of electronic filing of the statutory returns and documents or other information required to be furnished to...

(1) The Authority or the Cabinet Secretary, as the case may be, may publish in whole or in part, at such times and in such manner as it or he thinks fit, any information furnished to it or him under...

(1) There is hereby established a Fund to be known as the Deposits Guarantee Fund. (2) The Deposit Guarantee Fund shall vest in a Board of Trustees appointed under section 56. (3) The moneys...

(1) The Board of Trustees shall consist of— (a) the Chairperson who shall be elected from among the members appointed under subsection (2)(b) and (f); (b) the Chairperson of the Board of the...

(1) The Board of Trustees shall pay its members such remuneration or allowances for expenses out of the Deposit Guarantee Fund as it may determine after consultation with the Cabinet Secretary. (2)...

The Deposit Guarantee Fund shall consist of— (a) moneys contributed to the Deposit Guarantee Fund by Sacco societies in accordance with section 60; (b) income investment interest accruing to the...

(1) The Deposit Guarantee Fund shall provide protection for members' deposits, but not shares, up to an amount of one hundred thousand shillings in respect of each member. (2) The amount being the...

(1) Every Sacco society shall be a contributor to the Deposit Guarantee Fund and shall pay into the Deposit Guarantee Fund such annual amount, and at such times, as the Board of Trustees may determine...

The Board of Trustees shall, within three months after the close of each financial year, submit to the Cabinet Secretary a report on the operations of the Deposit Guarantee Fund for that year.

Where the Authority considers that it is in the public interest that all Sacco societies, or a particular Sacco society should remain closed on a day which is not a public holiday, the Authority may,...

The High Court may, on application made ex-parte by the Authority or a statutory manager or liquidator, if it considers it to be in the interest of the members of a Sacco society, make an order— (a)...

Any officer of a Sacco society who fails to— (a) take all reasonable steps to secure the compliance of the Sacco society with this Act or regulations made under this Act; (b) take all reasonable...

Any officer of a Sacco society who wilfully— (a) with intent to deceive, falsifies any books of account, report, statement, record or other document of the society; (b) signs, issues, publishes or...

(1) Where any Sacco society or other person contravenes any of the provisions of this Act or regulations made under this Act— (a) if it is a body corporate, it shall be guilty of an offence and...

(1) For greater certainty, the provisions of the Co-operative Societies Act (Cap. 490) shall apply to a Sacco society carrying out deposit-taking business under this Act with respect to any matter, to...

(1) The Cabinet Secretary shall, in consultation with the Authority, make regulations generally for the better carrying out of the provisions of this Act. (2) Despite the generality of subsection...

A Sacco society which at the commencement of this Act, is carrying out deposit-taking business to which this Act applies shall, within twelve months from the date of commencement, or such shorter...