National Payment System Act
25. Utilization of assets of a designated payment system participant
25. Utilization of assets of a designated payment system participant
Despite anything to the contrary in any law relating to insolvency, any asset of a designated payment system participant which was provided prior to the issue of any order for that settlement system participant’s winding-up by that participant to the Central Bank, or the designated payment system operator, as security for a loan in respect of its settlement obligations, may be utilized by the Central Bank or the designated payment system operator, as the case may be, to the extent required for the discharge of the settlement obligations of the payment system participants.Source: Kenya Law