Nairobi International Financial Centre Act

40. Regulations

Edition: 2022-12-31 · In force

40. Regulations

(1)The Cabinet Secretary may, on the recommendation of the Authority, make Regulations generally for the better carrying out the purposes and objectives of this Act.

(2)Without prejudice to the generality of subsection (1), the Regulations may—

(a)designate qualified activities to be conducted by NIFC firms;

(b)determine any benefits, exemptions and incentives available to NIFC firms;

(c)determine the general conditions of entry of firms to the Centre;

(d)provide for the certification process of NIFC firms;

(e)provide for the payment of compensation and penalties or fines in the event of a breach of the provisions of this Act or its regulations;

(f)prescribe information required of NIFC firms; and

(g)address any other matter required in order to achieve the objectives of this Act.

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Source: Kenya Law