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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) prohibiting the Sacco society from carrying on the deposit-taking business; or(b) staying the commencement or continuance of any action or any proceedings against the Sacco society for a specified period of time on such terms and conditions as the High Court considers reasonable and may extend the specified period up to a total of six months from the beginning of the stay.
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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...