Banking Act

52. Civil obligations

Edition: 2024-12-27 · In force

52. Civil obligations

(1)For the avoidance of doubt, no contravention of the provisions of this Act or the Central Bank of Kenya Act (Cap. 491) shall affect or invalidate in any way any contractual obligation between an institution and any other person.

(2)The provisions of subsection (1) shall apply with retrospective effect to the Banking Act (now repealed) and the Central Bank of Kenya Act (Cap. 491).

(3)This section shall not permit any institution to recover in any court of law interest and other charges which exceed the maximum permitted under the provisions of this Act or the Central Bank of Kenya Act (Cap. 491).

Case law referring to this provision

Muiruri (Being the administrator of the Estate of the Late Joseph Muiruri Gachoka - Deceased) v Bank of Baroda (Kenya) Ltd (Civil Appeal 282 of 2004) [2014] KECA 319 (KLR) (10 October 2014) (Judgment)

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Source: Kenya Law