ADVOKS GLOBAL · KENYA
Investment and Financial Analysts Act
27. Disciplinary Committee
Edition: 2022-12-31 · In force
27. Disciplinary Committee
(1)There shall be a committee of the Council to be known as the Disciplinary Committee.(2)The Disciplinary Committee shall consist of eight members who shall be appointed in accordance with subsection (3).(3)The members of the Disciplinary Committee shall be appointed by the Council from amongst persons nominated in the following manner—(a)three members of the Institute, of whom one, who meets the minimum qualifications of a full member of the Institute in good standing with at least ten years' experience in the profession, shall be designated as the Chairperson, one (identified by agreement of the members of the Board or by lot) shall cease to hold office at the commencement of the day on which the second annual general meeting of the Institute is to be held, save in the case of any such who earlier ceases to hold office;(b)one nominated by the Council from another profession other than Securities and Investment Analysts;(c)one nominated by the Attorney-General;(d)one nominated by the Institute of Certified Public Secretaries of Kenya;(e)one nominated by the Capital Markets Authority;(f)one nominated by the Cabinet Secretary in charge of the National Treasury.(4)In making appointments under this section, the Council shall have regard to the knowledge and interest of the persons so appointed in matters pertaining to securities and investment analysis.(5)The quorum of a meeting of the Disciplinary Committee shall be four members.(6)Subject to subsection (7), a member of the Disciplinary Committee shall hold office for three years and shall be eligible for reappointment for one further term.(7)Where any member of the Disciplinary Committee resigns his office or is for any reason unable to perform the functions of his office, the Council shall require the respective nominating body specified in subsection (3) to nominate a replacement for such member, for appointment in accordance with that subsection.(8)The Council shall provide the Disciplinary Committee with such facilities and resources as are necessary to enable it competently discharge its functions.(9)The Disciplinary Committee may, subject to the provisions of this Act, regulate its own procedure.