Central Depositories Act

2A. Functions of the Authority

Edition: 2023-12-11 · In force

2A. Functions of the Authority

The functions of the Authority under this Act shall be to—

(a)take such measures as are necessary to ensure that the provisions of this Act are complied with;

(b)take necessary measures to maintain and promote fairness, efficiency, competitiveness, transparency and orderliness in the deposit of securities, and the clearance and settlement of transactions in securities, by a central depository;

(c)licence, supervise, monitor and regulate the activities of central depositories;

(d)set standards of competence for central depository agents;

(e)approve the rules of central depositories;

(f)promote, encourage and enforce proper conduct, competence and integrity of central depository agents;

(g)counter and suppress illegal, improper or unfair practices;

(h)make regulations for the better carrying out of the purposes and provisions of this Act; and

(i)perform any other functions under this Act or any other legislation as may be conferred, from time to time, on the Authority.

[Act No. 38 of 2011, s. 3.]

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Source: Kenya Law