ADVOKS GLOBAL · KENYA
Kenya Deposit Insurance Act
16. Funds of the Corporation
Edition: 2022-12-31 · In force
16. Funds of the Corporation
(1)The funds of the Corporation shall comprise of—(b)all monies from any other source provided for or donated or lent to the Corporation including contributions, gifts or grants from or by way of testamentary bequest by any person;(c)monies earned or arising from any investment of the Fund or the Corporation; and(d)such fees, monies or assets as may accrue to or vest in the Corporation in the course of the exercise of its powers or the performance of its functions under this Act or under any written law.(2)Parliament may, in exigent circumstances, appropriate such funds as may be required by the Corporation for purposes of this Part.(3)The receipts, earnings or accruals of the Fund and its balances at the close of each financial year shall not be paid into the Consolidated Fund, but shall be retained for the purposes of the Fund.(4)If at any time the amount available in the Corporation is insufficient to meet the requirements of the Corporation, the Corporation shall transfer from the Fund, on such terms and for such period as may be determined by the Board, such amount as may be sufficient to meet the requirements of the Corporation.