ADVOKS GLOBAL · KENYA
Nairobi International Financial Centre Act
28. Application for certification
Edition: 2022-12-31 · In force
28. Application for certification
(1)A person who intends to operate as an NIFC firm shall apply to the Authority, in the prescribed form, to be certified as such.(2)An application under subsection (1) shall be accompanied by the prescribed application fee and any other additional information as the Authority may require.(3)The Authority shall, in considering an application for certification under subsection (1), be satisfied as to the ability of the applicant to meet the prescribed conditions for certification in line with the objectives of the Centre.(4)The Authority may—(a)subject to the payment of the prescribed fee and to such conditions as the Authority may consider necessary, certify a firm to operate as an NIFC firm; or(b)decline to certify a firm.(5)Where the Authority declines to certify a firm under subsection 4(b), the Authority shall—(a)notify the applicant of its decision to do so setting out the reasons for the decline; and(b)grant the applicant an opportunity to be heard.(6)A certification granted under this Act shall remain in force until—(a)withdrawn or suspended by the Authority; or(b)voluntarily surrendered by the firm.(7)An NIFC firm shall pay an annual fee as the Authority may prescribe from time to time.(8)The Authority may—(a)impose such fees as are necessary in relation to NIFC firms; and(b)prescribe different fees in respect of different classes of NIFC firms or activities carried out by such firms.