ADVOKS GLOBAL · KENYA
Capital Markets Act
6. Meetings and procedures of the Authority
Edition: 2025-12-11 · In force
6. Meetings and procedures of the Authority
(1)The Board shall meet not less than six times in every financial year and not more than two months shall elapse between the date of one meeting and the date of the next meeting.(2)The quorum for the conduct of the business of the Board shall be six members including the chief executive.(3)The Chairperson shall preside at every meeting of the Board at which he or she is present but in his absence, the members present shall elect one of their number who shall, with respect to that meeting and the business transacted thereat, have all the powers of the Chairperson.(4)All questions for decisions at any meeting of the Authority shall be decided by the vote of the majority of the members present and in case of an equality of votes the Chairperson shall have a casting vote.(5)If the Chairperson of the Authority, by reason of extended illness or absence is temporarily unable to perform the duties of his office, the President, on the recommendation of the Cabinet Secretary, shall appoint another member of the Authority to act in his place during the period of absence.(6)The Chairperson may at any time resign by a letter addressed to the President and the resignation shall take effect upon being accepted by the President.(7)Any member who has a direct or indirect interest in any decision that is to be taken on any specific non-rule making matter by the Authority, shall disclose the nature of such interest at the meeting of the Authority where such decision is being taken and the disclosure shall be recorded in the minutes of the meeting, and if either the member or majority of the members of the Authority believe that such member’s interest in the matter is such as to influence his judgment, he or she shall not participate in the deliberation or the decision of the Authority on such matter:Provided, that if a majority of the members in attendance at a meeting where such matter is considered determine that the experience or expertise of the interested member is necessary for the deliberation on the matter, they may permit such member to participate as they deem appropriate.