ADVOKS GLOBAL · KENYA
Central Depositories Act
9. Central depository agents
Edition: 2023-12-11 · In force
9. Central depository agents
(1)No person shall act or hold himself out as a central depository agent unless such person is duly appointed as such in accordance with this section.(2)Subject to this Act, a central depository may, in writing, appoint—(a)any trading participant of a securities exchange for which it is its central depository; or(b)a non-bank subsidiary of any bank or financial institution licensed under the Banking Act (Cap. 488); or(c)any institutional investor; or(d)any body corporate of a type prescribed by the Authority, to be its central depository agent.(3)A central depository agent appointed under this section shall perform all or any functions approved by the central depository under the CDS rules.(4)In the performance of its functions under this Act, a central depository agent shall, when so required, produce or make available to the central depository or to the Authority, any information or document relating to a securities account.(5)Subject to this Act, the Authority may make such rules as may be necessary to regulate the appointment of a central depository agent and the imposition of duties, obligations and sanctions on such agent.