Kenya Banking Act
- 1 PART I - PRELIMINARY
- 2 PART II-LICENSING OF INSTITUTIONS
- 3 PART III-PROHIBITED BUSINESS
- 4 PART IV-RESERVES AND DIVIDENDS
- 5 PART V-ACCOUNTS AND AUDIT
- 6 PART VI-INFORMATION AND REPORTING REQUIREMENTS
- 7 PART VII-INSPECTION AND CONTROL OF INSTITUTIONS
- 8 PART VIII-THE DEPOSIT PROTECTION FUND
- 9 PART IX-REPRESENTATIVE OFFICES OF FOREIGN INSTITUTIONS
- 10 PART X-MISCELLANEOUS PROVISIONS
- 11 SCHEDULES
- 12 Related Acts
PART I - PRELIMINARY
- Section 1: Short title
- Section 2: Interpretation
PART II-LICENSING OF INSTITUTIONS
- Section 3: Restriction on Carrying of Banking Business, Etc
- Section 4: Application for License.
- Section 5: Licensing of Institutions.
- Section 6: Revocation of License.
- Section 7: Minimum Capital Requirements.
- Section 8: Location of Places of Business.
- Section 8A: Branches and Subsidiaries
- Section 9: Amalgamations and Transfer of Assets and Liabilities.
- Section 9A: Directors, Chief Executive Officers and Significant Shareholders to be Fit and Proper
PART III-PROHIBITED BUSINESS
- Section 10: Limit on Advances, Credits and Guarantees.
- Section 11: Restrictions on Advances, Credits and Guarantees.
- Section 12: Restrictions on Trading and Investments.
- Section 13: Restrictions on Ownership of Share Capital of an Institution.
- Section 14: Restrictions on Advances for Purchase of Land.
- Section 15: Mortgage Finance Companies.
- Section 16: Restrictions on Deposit Taking.
- Section 16A: Imposition of Charges and Payment of Interest
PART IV-RESERVES AND DIVIDENDS
- Section 17: Ratio Between Capital and Deposits.
- Section 18: Ratio Between Capital and Assets
- Section 19: Minimum Liquid Assets.
- Section 20: Restrictions on Dividends.
- Section 20A: Financial Year
PART V-ACCOUNTS AND AUDIT
- Section 21: Form of Accounts.
- Section 22: Accounts to be Exhibited.
- Section 23: Submission of Accounts to the Central Bank.
- Section 24: Appointment of Auditors.
- Section 25: Change of Auditors to be Notified to the Central Bank.
- Section 26: Auditor’s Duty of Confidence.
PART VI-INFORMATION AND REPORTING REQUIREMENTS
- Section 27: Collection of Information by Central Bank.
- Section 28: Furnishing of Information.
- Section 29: Minister may Require Further Information.
- Section 30: Time to Furnish Information.
- Section 31: Publication of Information.
PART VII-INSPECTION AND CONTROL OF INSTITUTIONS
- Section 32: Inspection of Institutions.
- Section 32A: Vetting of Officials
- Section 33: Powers of Central Bank to Advise and Direct.
- Section 33A: Power upon Audit and Inspection.
- Section 34: Powers of Central Bank to Intervene in Management.
- Section 34A: Voluntary Liquidation.
- Section 35: Liquidation of Institutions by Central Bank.
- Section 35A: Expenses under part
PART VIII-THE DEPOSIT PROTECTION FUND
- Section 36: Deposit Protection Fund Board.
- Section 36A: Objects and Functions of the Board
- Section 36B: Remuneration of Board Members
- Section 36C: Protection from Personal Liability
- Section 37: Deposit Protection Fund
- Section 38: Contribution to the Fund.
- Section 39: Protection of Deposits.
- Section 40: Rights of the Board on Insolvency.
- Section 40A:Rights of Assignments.
- Section 41: [Repealed].
- Section 41A: Administration of Assets.
- Section 42: Annual Reports, etc
PART IX-REPRESENTATIVE OFFICES OF FOREIGN INSTITUTIONS
- Section 43: Representative Offices of Foreign Institutions.
PART X-MISCELLANEOUS PROVISIONS
- Section 44: Restriction on Increase in Bank Charges.
- Section 44A: Limit on Interest Recovered on Defaulted Loans
- Section 45: Minister to Consult with the Central Bank.
- Section 46: Bank Holidays.
- Section 47: Orders by High Court.
- Section 48: Disqualification of Officers.
- Section 49: Penalties for Offences.
- Section 50: Penalties for Default by Officers.
- Section 51: Misleading Advertisement for Deposits.
- Section 52: Civil Obligations.
- Section 52A: Act to Prevail in Event of Conflict.
- Section 53: Exemptions.
- Section 54: Act not to apply to certain institutions.
- Section 55: Regulations.
- Section 56: Repeal and savings.
- FIRST SCHEDULE: Criteria for Determining Professional and Moral Suitability of Directors and Senior Officers Proposed to Manage or Control Institutions
- SECOND SCHEDULE: Minimum Capital Requirements