ADVOKS GLOBAL · KENYA
Central Bank of Kenya Act
33F. Inspection of dealers
Edition: 2026-07-24 · In force
33F. Inspection of dealers
(1)The Bank may, at any time and from time to time cause an inspection to be made by any person authorized by it in writing, of any authorized dealer and of its books, accounts and records.(2)Subject to subsection (4), when an inspection is made under subsection (1), the authorized dealer concerned and every officer or employee thereof shall produce and made available to the person making the inspection, all books, accounts, records and other documents of the authorized dealer and such correspondence, statement and information relating to the authorized dealer, its business and the conduct thereof as the person making the inspection may require, within such period as he may specify in writing.(3)Any failure to produce any books, accounts, records, documents, correspondence, statement or information within the period specified in the relevant direction shall constitute an offence under this Part.(4)Notwithstanding the provisions of subsection (2)—(a)any books, accounts, records and other documents required to be produced under this section shall not, in the course of the inspection, be removed from the premises of the authorized dealer or other premises at which they are produced;(b)the person making the inspection may make copies of any books, accounts and other documents required for the purposes of his report;(c)all information obtained in the course of the inspection shall be treated as confidential and used solely for the purposes of this Part.(5)A person who makes an inspection shall submit a report of his findings to the Bank indicating—(a)any breach or failure to observe the requirements of this Part and any orders or directions made thereunder;(b)any irregularity in the manner of conduct of the business of the authorized dealer inspected;(c)any apparent mismanagement of business or lack of management skills in that authorized dealer;(d)any other matter revealed or discovered in the course of the inspection warranting, in the opinion of the person making the inspection, remedial action or further investigation.(6)The Central Bank may publish in whole or in part, at such times and in such manner as it deems fit, any information furnished to it under this Part:Provided that the information so furnished shall not be published if it would disclose the financial affairs of any person, unless the consent, in writing, of that person has first been given.(7)Except as provided in the Act, no person shall disclose or publish any information which comes into his possession as a result of the performance of his duties or responsibilities under this Act.(8)Notwithstanding the provisions of this section, the Central Bank may disclose any information referred to in subsection (7) to any monetary authority, financial regulatory authority, fiscal or tax agency, or fraud investigation agency within or outside Kenya, where such information is reasonably required for the proper discharge of the functions of the Central Bank or the requesting authority, financial regulatory authority, fiscal or tax agency or fraud investigation agency:Provided that the sharing of information with any authority or agency outside Kenya shall be on reciprocal basis.