ADVOKS GLOBAL · KENYA
Central Depositories Act
53. General penalty
Edition: 2023-12-11 · In force
53. General penalty
(1)A person who contravenes or fails to comply with any of the provisions of this Act or of any rules made thereunder commits an offence under this Act and, where no penalty is expressly provided, shall, on conviction, be liable to a fine not exceeding five million shillings, or to imprisonment for a term not exceeding five years, or to both.(2)In addition to the penalties provided in this Act, any person found guilty of an offence under this Act, shall be liable to pay compensation to any person who suffers loss as a consequence of the offence committed by the first named person.(3)The amount of compensation for which a person is liable under subsection (2), shall be—(a)the amount of the loss sustained by the person claiming the compensation; or(b)where the loss has been occasioned on the market as a whole, an amount equal to the profit made by such person, which shall be paid into the Compensation Fund established under the Capital Markets Authority Act (Cap. 485A).