ADVOKS GLOBAL · KENYA
Capital Markets Act
13. Furnishing of information to the Authority
Edition: 2025-12-11 · In force
13. Furnishing of information to the Authority
(1)The Authority or any person officially authorized in that behalf by the Authority may, by notice in writing, require any person to furnish to the Authority or to the authorized person, within such period as is specified in the notice, all such returns or information as specified in such notice.(2)The Authority or any member thereof, or any officer or servant of the Authority, shall not disclose to any person or use any return or information acquired under subsection (1) except for the purpose of achieving the objectives of the Authority unless required to do so by a court of law.(3)Notwithstanding subsection (2), the Authority may, where it receives a request from a regulatory body, whether established within or outside Kenya, for assistance in investigating a person specified by the regulatory body who has contravened or is contravening any legal or regulatory requirements which—(a)are enforced or administers by that regulatory body; or(b)relate to securities transactions regulated by that regulatory body,and where it is of the opinion that the request meets the requirements of subsection (5), provide the assistance requested for by exercising any of its powers under this Act or by providing such other assistance as the Authority may consider necessary.(4)For the purposes of subsection (3), the provisions of this Act shall, with such modifications as may be necessary, apply and have effect as if the contravention of the legal or regulatory requirement referred to in subsection (3) were an offence under this Act.(5)A regulatory body which requests for assistance under subsection (3) shall demonstrate that—(a)it is desirable or expedient that the assistance requested should be provided in the interest of the public; or(b)the assistance shall assist the regulatory body in the discharge and performance of its functions.(6)The Authority shall, in deciding whether the requirement under subsection (5) is satisfied in a particular case, take into account whether the regulatory body shall—(a)pay the Authority any of the costs and expenses incurred in providing the assistance; and(b)be able and willing to provide reciprocal assistance within its jurisdiction in response to a similar request for assistance from Kenya.(7)Nothing in this section shall be construed to limit the powers of the Authority to cooperate or coordinate with any other regulatory body in the exercise of its powers under this Act, in so far any such cooperation or coordination is not contrary to the objectives of this Act.Case law referring to this provision