Agricultural Finance Corporation Act

37. Power of Corporation to hold land

Edition: 2022-12-31 · Repealed

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37. Power of Corporation to hold land

(1)The Corporation may hold land which is—

(a)required for its business premises; or

(b)required for the provision of housing accommodation for the staff; or

(c)acquired as the result of foreclosure or otherwise on account of indebtedness to the Corporation,

but not otherwise.

(2)All developed land acquired in accordance with subsection (1)(c) of this section shall be sold at the earliest favourable opportunity upon such special terms and conditions as the Corporation may determine, but the Directors, the General Manager and members of the staff shall not buy directly or indirectly any land sold in pursuance of this subsection.

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Source: Kenya Law