ADVOKS GLOBAL · KENYA
Kenyan legislation
East African Development Bank Act
Edition: 2022-12-31 · In force
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1. Short title
This Act may be cited as the East African Development Bank Act.2. Financial provision
(1)There shall be charged on and paid out of the Consolidated Fund without further appropriation than this Act all payments required to be made from time to time by the Government to the Bank under the terms of the Treaty.(2)For the purpose of providing any sums required for making payments under this section, the Cabinet Secretary may, on behalf of the Government, make such arrangements as are necessary, or raise loans by the creation and issue of securities bearing such rates of interest and subject to such conditions as to repayment, redemption or otherwise as he thinks fit, and the principal and interest of those securities and the charges and expense incurred in connection with their issued shall be charged on and issued out of the Consolidated Fund.(3)Moneys received by the Government from the Bank or raised under subsection (2), shall be paid into and form part of the Consolidated Fund and shall be available in any manner in which the Consolidated Fund is available.3. Certain provisions of Charter to have force of law
The provisions of the Charter annexed to the Treaty of 1980 and set out in the Schedule to this Act shall have the force of law in Kenya.
Case law citing this Act