ADVOKS GLOBAL · KENYA
Central Depositories Act
15. Transitional provisions relating to trading of eligible securities
Edition: 2023-12-11 · In force
15. Transitional provisions relating to trading of eligible securities
(1)This section shall apply to all trading in eligible securities during the period beginning on the day immediately following the notification date and ending on the immobilisation date (in this section and in section 16 referred to as "the transitional period").(2)A central depository or a central depository agent, as the case may be, shall accept any certificate representing an eligible security to be immobilised for the purpose of settlement of any trade on the securities exchange during the transitional period in accordance with the CDS rules.(3)No person shall trade in any eligible security on a securities exchange without having a securities account.(4)The provisions of sections 14(2) to 14(8) shall apply to all central depository agents and the issuers with whom the documents referred to in subsection (2) of this section have been lodged.