Central Bank of Kenya Act,1966 🇰🇪

Kenya

Preface

Part I – PRELIMINARY

1. Short title

2. Interpretation

Part II – ESTABLISHMENT, CONSTITUTION AND OBJECTS

3. Establishment of Bank and legal status

4. Principal object of the Bank

4A. Other objects of the Bank

4B. Monetary policy statements

4C. Consultations on monetary policy

+4 more sections

Part III – CAPITAL AND RESERVES

8. Authorized capital of Bank

9. General Reserve Fund

Part IV – MANAGEMENT

10. Board of Directors

11. The Board of Directors

12. Meetings of Board

12A. Delegation by the Board

13. Governor

+8 more sections

Part V – CURRENCY

19. Currency of Kenya

20. External value of the shilling

21. Use of Kenya shilling

22. Issue of notes and coins, legal tender, and withdrawal

23. Spent.

+2 more sections

Part VI – EXTERNAL RELATIONS

26. Reserve of external assets

27. Dealings in gold and foreign exchange

28. Institutions with which Bank may deal in foreign exchange

29. Relations with foreign central banks, foreign banks and foreign financial institutions

30. Repealed

+3 more sections

Part VIA – REGULATIONS OF FOREIGN EXCHANGE DEALINGS

33A. Authorized dealers

33B. Licensing of authorized dealers

33C. Renewal of licence

33D. Revocation or suspension of licence

33E. Duties of authorized dealers

+10 more sections

Part VIB – MORTGAGE FINANCING BUSINESS

33P. Licensing

33Q. Powers of the Bank

Part VIC – REGULATION OF DIGITAL LENDERS

33R. Regulation of digital lenders

33S. Licensing

33T. Consultation

33U. Disclosure of credit information

Part VII – RELATIONS WITH SPECIFIED BANKS AND MICROFINANCE BANKS

34. Banker to institutions

35. Repealed

36. Loans

36A. Publication and sharing of information

36B. Reports to Parliament

+8 more sections

Part VIII – RELATIONS WITH PUBLIC ENTITIES

44. Fiscal agent and banker to public entities

45. Functions as fiscal agent

46. Direct advances to Government

46A. Loans and advances to Deposit Protection Fund Board

47. Open market operations

+3 more sections

Part IX – MISCELLANEOUS PROVISIONS

51. Revaluation profits or losses

52. Prohibited operations

53. Financial year

54. Annual reports

55. Publication of reports, etc

+3 more sections

Part X – TRANSITIONAL PROVISIONS

58. Repeal

59. Transitional clause

SCHEDULE

REPUBLIC OF KENYA

Central Bank of Kenya Act,1966

Act 15 of 1966

Assented to on 24 March 1966
Commenced on 29 March 1966
[This is the version of this document from 29 March 1966.]

An Act of Parliament to establish the Central Bank of Kenya and to provide for the operation thereof; to establish the currency of Kenya and for matters connected therewith and related thereto.

Part I – PRELIMINARY

1. Short title

This Act may be cited as the Central Bank of Kenya Act.

2. Interpretation

In this Act, unless the context otherwise requires—"authorized bank" means a specified bank licensed by the Bank under section 33B;"authorized bureau" means a foreign exchange bureau licensed by the Bank under section 33B;"authorized dealer" means an authorized bank, authorized bureau, authorized mortgaged finance company, an authorized money remittance provider or an authorized microfinance bank licensed by the Bank under section 33B;"authorized microfinance bank" means a microfinance bank licensed by the Bank under sect…

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Central Bank of Kenya Act,1966 🇰🇪

Table of Contents

REPUBLIC OF KENYA

Central Bank of Kenya Act,1966

Act 15 of 1966

Part I – PRELIMINARY

1. Short title

2. Interpretation

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