Sacco Societies (Deposit-Taking Sacco Business) Regulations, 2010 🇰🇪
Kenya 1 Citing Cases
REPUBLIC OF KENYA
Sacco Societies Act, 2008
Legal Notice No. 95
Sacco Societies (Deposit-Taking Sacco Business) Regulations, 2010
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Part I – PRELIMINARY
1. Citation
These Regulations may be cited as the Sacco Societies (Deposit-Taking Sacco Business) Regulations.2. Purpose
The purpose of these Regulations is to provide minimum operational regulations and prudential standards required of a deposit-taking Sacco Society.3. Interpretation
In these Regulations, unless the context otherwise requires—"allowance for loan loss" means an amount set aside in the Statement of financial position (Balance sheet) to recognise probable loan losses so that the true value of the loan portfolio is fairly stated;"amalgamation" means the consolidation of assets, liabilities and equity of two or more Sacco societies…Read the Full Legislation on judy.legal
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