ADVOKS GLOBAL · KENYA
National Payment System Act
7. Recognition of a payment system management body
Edition: 2025-11-04 · In force
7. Recognition of a payment system management body
(1)The Central Bank shall, upon designation of a payment system under this Act, automatically recognize the management body of such payment system.(2)A payment system management body recognized pursuant to the provisions of this section shall be subject to the guidelines that may be issued by the Central Bank from time to time.(3)Where a payment system management body recognised under subsection (1) oversees only one designated payment system, the recognition of the payment system management body shall stand revoked upon revocation of designation of the payment system:Provided that, where a recognised payment system management body manages several designated payment systems, the revocation of designation of any one of the payment systems shall not affect the recognition status of the payment system management body with respect to the payment systems whose designation has not been revoked.