ADVOKS GLOBAL · KENYA
Capital Markets Act
26A. Effect of revocation of a licence
Edition: 2025-12-11 · In force
26A. Effect of revocation of a licence
(1)A restriction, suspension or revocation of a licence under section 26, shall not—(a)void or affect an agreement, transaction or arrangement entered into by a licensed person on the securities market of a securities exchange or derivatives exchange before the revocation or suspension; or(b)affect the right, obligation or liability of any person arising under the agreement, transaction or arrangement.(2)The Authority may, where a licence has been restricted, suspended or revoked under this Part, by notice in writing—(a)require the licensed person to transfer to its client, records relating to client property or the affairs of the client held at any time for the client, in such manner, as the Authority may specify in the notice; or(b)permit the licensed person, subject to such conditions as the Authority may specify in the notice, to—(i)in case of a restriction or suspension, carry on the essential business operations for the protection of the interests of clients during the period of restriction or suspension; or(ii)in case of a revocation, carry on business operations for the purpose of closing down the business connected with the revocation.