ADVOKS GLOBAL · KENYA
Investment Promotion Act
12. Entitlement to certain licences
Edition: 2022-12-31 · In force
12. Entitlement to certain licences
(1)An investment certificate shall set out the licences listed in the Second Schedule that are necessary to the proposed investment and to which the holder of the investment certificate would, on application, be legally entitled.(2)Upon the issue of an investment certificate, the following apply with respect to each licence set out in the certificate under subsection (1)—(a)the holder of the investment certificate is entitled to have the licence issued, subject to any conditions set out in the Second Schedule or in the investment certificate, upon application made within twelve months after the investment certificate is issued and upon payment of the applicable fee, if any; and(b)until the licence is issued or twelve months elapse after the investment certificate is issued, whichever occurs first, the licence shall be deemed to have been issued, subject to any conditions set out in the Second Schedule or in the investment certificate and subject to the requirement to pay fees under subsection (3).(3)The holder of an investment certificate shall pay any fees that would be payable under the relevant legislation for the licences set out in the investment certificate in respect of the time period commencing on the day the investment certificate is issued and such fees shall be paid within six months after the issue of the investment certificate.(4)The entitlement to licences under subsection (2)(a) is for the initial issue of such licences only and following that initial issue the laws under which the licences are issued apply in the same way as they apply to all licences, including, for greater certainty, with respect to the revocation or renewal of the licences.(5)The Authority shall facilitate the issue of licences to which the holder of an investment certificate is entitled under this section.