Nairobi International Financial Centre Act

8. Board of the Authority

Edition: 2022-12-31 · In force

(1)The management of the Authority shall vest in a board of directors which shall comprise—

(a)a non-executive Chairperson appointed by the President;

(b)the Cabinet Secretary responsible for matters relating to finance, or a representative appointed in writing by the Cabinet Secretary;

(c)the Cabinet Secretary responsible for matters relating to international trade, or a representative appointed in writing by the Cabinet Secretary;

(d)the Attorney-General, or a representative appointed in writing by the Attorney-General;

(e)four other persons with relevant international financial services experience appointed by the Cabinet Secretary; and

(f)the Chief Executive Officer who shall be an ex officio member with no right to vote.

(2)A person qualifies to be appointed as the Chairperson under subsection (1)(a) if the person—

(a)holds a degree from a university recognized in Kenya;

(b)has at least fifteen years' experience at a senior management level in—

(i)finance, economics, banking, insurance or capital markets;

(ii)corporate or financial services law; or

(iii)any other field that is relevant to the functions of the Authority; and

(c)meets the requirements of Chapter Six of the Constitution of Kenya.