ADVOKS GLOBAL · KENYA
Kenya Deposit Insurance Act
48. Further supplies and advances
Edition: 2022-12-31 · In force
48. Further supplies and advances
Nothing in sections 45 and 46 shall be construed as—(a)prohibiting a person from requiring payments to be made in cash for goods, services, use of leased or licensed property or other valuable consideration provided after the assumption of control under section 44(2)(b);(b)requiring the advance of money or credit to an institution after the assumption of control;(c)requiring the provision to an institution, after the assumption of control under section 44(2)(b) or of any of the following services where to do so would be likely, as the case may be, in the reasonable opinion of the person providing the service, result in that person advancing money or credit to an institution after such assumption of control or appointment or give rise, after such assumption of control or appointment, to a claim of that person against an institution, namely—(i)cash management services;(ii)services related to the redemption of debt instruments;(iii)services related to the issuance of letters of credit or guarantees;(iv)cheque certification services;(v)currency supply services;(vi)funds transfer services and remittance order services;(vii)securities delivery and settlement services;(viii)charge card, credit card, debit card and payment card services;(ix)automated banking and teller machine services;(x)electronic funds transfer at point of sale services;(xi)consignment cheque services;(xii)other services similar to those referred to in subparagraphs (i) to (xi);(xiii)a guarantee of liabilities in respect of any of the services referred to in subparagraphs (i) to (xiii);(xiv)any service of such kind as may be prescribed.