Nairobi International Financial Centre Act

11. Functions and powers of the Board

Edition: 2022-12-31 · In force

(1)The Board shall have all the powers necessary for the performance of the functions of the Authority under this Act.

(2)Without prejudice to the generality of the foregoing, the Board shall have the powers to—

(a)lay down the general policies and plans for the Authority in accordance with international best practices;

(b)prepare the annual budget of the Authority for the purpose of funding the administrative activities of the Centre;

(c)administer the assets and funds of the Authority in such a manner and for such purposes as shall promote the best interests of the Authority;

(d)receive grants, donations or any other moneys on behalf of the Authority and make legitimate disbursements therefrom;

(e)open such banking accounts for the funds of the Authority as may be necessary;

(f)ensure the Authority is run at all times in accordance with this Act and best international practices; and

(g)perform any other function necessary to achieve the objectives of the Authority.