ADVOKS GLOBAL · KENYA
Kenya Deposit Insurance Act
7. Board of Directors
Edition: 2022-12-31 · In force
7. Board of Directors
(1)The Corporation shall be administered by a Board of Directors which shall consist of—(a)a non-executive chairperson appointed by the President on the recommendation of the Cabinet Secretary from amongst the members appointed under paragraph (d):Provided that the chairperson appointed under this paragraph shall not be from the member institutions of the Corporation;(b)the Principal Secretary in the Ministry for the time being responsible for matters relating to finance or his representative;(bb)the Attorney-General or his representative;(c)the Governor of the Central Bank of Kenya or his representative;(cc)the Chief Executive Officer of the Kenya Bankers Association or his representative;(d)subject to subsection (1A), five members appointed by the Cabinet Secretary by virtue of their knowledge and at least ten years' professional experience in banking, finance, insurance, commerce, law, accountancy or economics; and(e)the Chief Executive officer who shall be an ex officio member.(1A)A person appointed under subsection (1)(d) shall not be—(b)a person from a member institution licensed by the Central Bank of Kenya.(2)The Board shall appoint its own secretary.(3)A person shall be qualified to be appointed under subsection (1)(d) if the person holds a university degree from a university recognized in Kenya and has not less than ten years’ experience in—or any other related discipline.
Case law referring to this provision