The Banking Act CAP 488▤
Amendments of other laws
The several written laws specified in the first column of the Second Schedule are amended, in relation to the provisions thereof s…
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71 results · The Banking Act CAP 488
The Banking Act CAP 488▤
Repeal and savings
(1) The Banking Act (No. 56 of 1968) is repealed. (2) Notwithstanding subsection (1), whereupon the commencement of this Act any b…
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The Banking Act CAP 488▤
Regulations
(1) The Central Bank may make regulations generally for carrying out the purposes and provisions of this Act. (2) Without prejudic…
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The Banking Act CAP 488▤
Limitation of right to privacy
(1) The right to privacy guaranteed under Article 31 of the Constitution is hereby limited under Article 24 of the Constitution on…
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The Banking Act CAP 488▤
Rights and fundamental freedoms
All persons subject to this Act shall enjoy all rights and fundamental freedoms enshrined in the Constitution unless limited to th…
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The Banking Act CAP 488▤
Act not to apply to certain institutions
(1) This Act does not apply to— (a) the Kenya Post Office Savings Bank established under the Kenya Post Office Savings Bank Act (C…
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The Banking Act CAP 488▤
Exemptions
(1) The Cabinet Secretary may, by notice in the Gazette, exempt an institution from the provisions of section 12, 13 or 14 subject…
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The Banking Act CAP 488▤
Act to prevail in event of conflict
(1) Subject to subsection (2), where there is a conflict between the provisions of this Act and the provisions of any other writte…
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The Banking Act CAP 488▤
Civil obligations
(1) For the avoidance of doubt, no contravention of the provisions of this Act or the Central Bank of Kenya Act (Cap. 491) shall a…
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The Banking Act CAP 488▤
Misleading advertisement for deposits
(1) Any institution or other person who issues any advertisement, brochure, circular or other document inviting any person to make…
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The Banking Act CAP 488▤
Penalties for default by officers
(1) Any officer of an institution who— (a) fails to take all reasonable steps to secure the compliance of the institution with thi…
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The Banking Act CAP 488▤
Penalties for offences
Where any institution or other person contravenes any of the provisions of this Act— (a) if it is a body corporate, it shall be gu…
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The Banking Act CAP 488▤
Disqualification of officers
(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…
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The Banking Act CAP 488▤
Orders by High Court
(1) The High Court, on application made ex parte by the Cabinet Secretary or, where a manager or liquidator has been appointed by…
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The Banking Act CAP 488▤
Bank holidays
(1) Where the Cabinet Secretary considers that it is in the public interest that banks, or a particular bank, or a particular bran…
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The Banking Act CAP 488▤
Cabinet Secretary to consult with the Central Bank
(1) The Cabinet Secretary shall consult with the Central Bank in the exercise of his functions under this Act. (2) Where the appro…
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The Banking Act CAP 488▤
Limit on interest recovered on defaulted loans
(1) An institution shall be limited in what it may recover from a debtor with respect to a nonperforming loan to the maximum amoun…
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The Banking Act CAP 488▤
Restrictions on increase in bank charges
No institution shall increase its rate of banking or other charges except with the prior approval of the Cabinet Secretary.
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The Banking Act CAP 488▤
Representative offices of foreign institutions
(1) The Central Bank may, in writing and subject to such conditions as the Central Bank may consider necessary, authorize a bank o…
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The Banking Act CAP 488▤
Rights of assignment
(1) The liquidator may assign the assets or liabilities of an institution or of a customer under this Act, the Insolvency Act (Cap…
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The Banking Act CAP 488▤
Offences under sections 35 and 35B
(1) A person who— (a) refuses or fails to comply with a requirement of a liquidator appointed under section 35, or of an administr…
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The Banking Act CAP 488▤
Right of appeal in respect of Board's exercise of powers under section 35
(1) Any interested person who is dissatisfied with the exercise by the Board of a power conferred on it by section 35 may apply to…
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The Banking Act CAP 488▤
Power to place institutions in administration in certain circumstances
(1) The Central Bank may appoint the Board as administrator to manage to manage the institution's affairs and property, but only i…
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The Banking Act CAP 488▤
Liquidation of insolvent institutions
(1) If satisfied on reasonable grounds that an institution has become insolvent, the Central Bank may appoint the Board to be a li…
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