Central Depositories Act

4. Establishment of a central depository

Edition: 2023-12-11 · In force

4. Establishment of a central depository

(1)A company incorporated under the Companies Act (Cap. 486) which proposes to operate a central depository shall apply to the Authority in writing to be licensed as such.

(2)An application under subsection (1) shall be accompanied by—

(a)the CDS rules made by the applicant in such manner and form as the Authority may prescribe;

(b)the prescribed fee; and

(c)such other information as the Authority may prescribe.

(3)The Authority may require an applicant to provide such further information as it may consider necessary in relation to the application, in such form or verified in such manner as the Authority may direct.

(4)A central depository which proposes to alter any particulars submitted under this section shall seek prior approval of the Authority before making such alterations.

(5)The Authority shall, in considering an application under subsection (1), determine if the applicant is fit and proper for the purposes of this Act.[Act No. 38 of 2011, s. 4.]

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Source: Kenya Law