Sacco Societies Deposit Levy Order, 2011 🇰🇪

Kenya

REPUBLIC OF KENYA

Sacco Societies Act, 2008

Legal Notice No. 188

Sacco Societies Deposit Levy Order, 2011

Commenced on (exact date unavailable)
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1. Citation

This Order may be cited as the Sacco Societies Deposit Levy Order and shall come into operation on the 31st December, 2011.

2. Payment of annual levy

(1)Subject to a maximum levy of ten million shillings per annum, a deposit-taking Sacco Society shall pay an annual levy (hereinafter called the deposit levy payable) at the rate set out in the schedule based on the total deposits held by the society as indicated in the last audited financial statements of the society.

(2)Upon issuance of a deposit-taking licence, the Authority shall assess the Sacco Society for purposes of this Order.

(3)The deposit levy payable shall become due and payable not later than thirty (30) days after a…

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