Capital Markets Act, 1989 🇰🇪

Kenya

Preface

Part I – PRELIMINARY

1. Short title

2. Interpretation

3. Meaning of the term associate

4. Definition of “interest in securities”

Part II – THE CAPITAL MARKETS AUTHORITY

5. Establishment and membership of the Authority

6. Meetings and procedures of the Authority

7. Seal and execution of documents

8. Appointment of chief executive of the Authority

9. Appointment and remuneration of staff

+15 more sections

Part IIA – RECOGNITION OF SELF-REGULATORY ORGANIZATIONS

18B. Recognition of self-regulatory organization

18C. Rules of self-regulatory organizations

18D. Restriction on decision by a self-regulatory organization

18E. Disciplinary action by a self-regulatory organization

18F. Protection from personal liability

+4 more sections

Part III – PROVISIONS RELATING TO EXCHANGES

19. Approval of securities exchange required

19A. Restriction on use of the words “stock exchange”, “securities exchange” etc.

20. Application for securities exchange, commodities exchange approval

21. Changes in securities exchange, commodities exchange rules

21A. Securities exchange to make rules

+8 more sections

Part IV – SECURITIES INDUSTRY LICENCES

23. Licences required

24. Application for licence

24A. Criteria for suitability

25. Repealed

25A. Imposition of additional sanctions and penalties

+6 more sections

Part IVA – PUBLIC OFFERS OF SECURITIES

30A. Offers of securities

30B. Restricted public offers

30C. Filing of information notice

30D. Criminal liability for a defective prospectus

30E. Compensation for false or misleading prospectus

+3 more sections

Part IVB – ASSET BACKED SECURITIES

30H. Interpretation

30I. Restrictions on issues, offers etc. of asset backed securities

30J. Form of asset backed securities to be offered

30K. Nature of assets that may be sold, transferred or assigned

30L. Origination of assets for sale, transfer or assignment

+14 more sections

Part V – SECURITIES TRANSACTIONS AND REGISTERS

31. Transactions in securities

32. Register of interest in securities

Part VI – INSIDER TRADING AND OTHER MARKET ABUSES

32A. Application

32B. Insider trading

32C. Inside information

32D. Information made public

32E. Penalty for insider trading

+9 more sections

Part VII – MISCELLANEOUS PROVISIONS

33A. Powers of the Authority to intervene in management of a licence

33B. Prohibited conduct to be reported

33C. Remedy for unfair prejudice

33D. Powers of the Authority to demand for production of records and documents

33E. Winding up

+10 more sections

REPUBLIC OF KENYA

Capital Markets Act, 1989

Act 17 of 1989

Assented to on 13 December 1989
Commenced on 15 December 1989
[This is the version of this document from 15 December 1989.]

An Act of Parliament to establish a Capital Markets Authority for the purpose of promoting, regulating and facilitating the development of an orderly, fair and efficient capital market in Kenya and for connected purposes

Part I – PRELIMINARY

1. Short title

This Act may be cited as the Capital Markets Act.Act No. 3 of 2000, s. 3.

2. Interpretation

In this Act, unless the context otherwise requires—“agent” means any person appointed in writing by a licensed person, except in a derivatives market, to perform any of the functions ordinarily performed by the licensed person on behalf of that licensed person;“authorised securities dealer” means a person authorized to deal in securities and operate in a specific market segment as may be prescribed by the Authority;“Authority” means the Capital Markets Authority established…

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Capital Markets Act, 1989 🇰🇪

Table of Contents

REPUBLIC OF KENYA

Capital Markets Act, 1989

Act 17 of 1989

Part I – PRELIMINARY

1. Short title

2. Interpretation

Read the Full Legislation on judy.legal