ADVOKS GLOBAL · KENYA
Foreign Investments Protection Act
4. Amendment of certificate
Edition: 2022-12-31 · In force
4. Amendment of certificate
The Cabinet Secretary may amend a certificate granted under section 3—(a)in any case in which he is satisfied that some other foreign national has succeeded to the interest in the enterprise of the holder of the certificate, by substituting for the name of the holder the name of his successor:Provided that the Cabinet Secretary shall not substitute the name of any person who has acquired the interest of the holder by the expenditure, directly or indirectly, of assets other than foreign assets;(b)in any case where an interest in the enterprise passes to any other person on the death of the holder;(c)in any case where the name of the enterprise is altered, by substituting the name as so altered;(d)in any case in which new foreign assets are invested or are to be invested in the enterprise by the holder, or the holder has withdrawn or been paid, in accordance with this Act, any part of his investment by varying the approved amount in either Kenya currency or the relevant foreign currency in accordance therewith;(e)in any case where the investment consists of the acquisition of shares or stock of a body corporate, and new shares or stock are acquired otherwise than by the investment of assets which are not foreign assets, by amending the number or amount and the description thereof;(f)with the written consent of the holder of the certificate, by varying the approved foreign currency;(g)by extending the period during which foreign assets are to be invested; and(h)subject to these foregoing provisions and to the written consent of the holder, in such other manner as may be necessary or desirable.