ADVOKS GLOBAL · KENYA
Fisheries Management and Development Act
134. Performance bond
Edition: 2026-07-10 · In force
134. Performance bond
(1)The Cabinet Secretary may require either as a precondition of issuing a licence to any fishing vessel other than a Kenya fishing vessel, or at any time during the licensing period, that a performance bond be provided by the applicant in accordance with such procedures and in such form as may be prescribed.(2)Performance bonds prescribed under subsection (1) shall serve as a financial assurance for the fulfilment of all obligations arising out of the licence and this Act, including potential costs relating to rescue, recovery of other costs and fines, penalties or compensation for violations against this Act, and shall be drawn upon in such manner as may be prescribed.(3)The amount of financial assurance provided under this section shall be determined by the Director-General in consultation with the Board and having regard to any applicable fishery management plan and the value of the relevant fishery—(4)The forms of financial assurance acceptable under this section may be any or a combination of the following—(b)trust fund with pay-in period;(5)Where a licence-holder is obligated to provide a financial assurance under this section and fails to do so, the Director-General shall—(a)cause a notice of demand to be served on the licence-holder a notice of demand; and(b)cause a note of the service of the notice to be registered in a Magistrate's Court.(6)If by the end of the period specified in the notice of demand under subsection (5) the financial assurance required from the licence-holder under this section—(a)has been provided, the notice shall thereupon cease to have effect, and the Director-General shall cause the registry endorsement to be cancelled; or(b)has not been provided, the applicable licence shall be liable to cancellation by the Cabinet Secretary.