ADVOKS GLOBAL · KENYA
Prevention of Fraud (Investments) Act
15. Rules relating to conduct of business
Edition: 2023-12-11 · Not commenced
15. Rules relating to conduct of business
(1)The Minister may, in consultation with the Attorney-General and the committee or other governing body of any stock exchange, make rules for regulating the conduct of business by holders of licences, and in particular, but without prejudice to the generality of such power, such rules may make provision for all or any of the following matters—(a)for determining the class of persons in relation to whom, and the manner and circumstances in which, any holder of a licence may deal in securities;(b)for prescribing forms of contracts which may or shall be used in making contracts under the authority of a licence;(c)for prescribing the books, accounts and other documents which must be kept by the holder of a principal’s licence in relation to any dealing in securities by him;(d)for requiring the holder of a principal’s licence to produce, for inspection by, or by an agent of, any person with whom he has made any agreement by way of dealing in securities, such contract notes and vouchers relating to that agreement as may be prescribed, and to furnish to that person on demand and on payment of the prescribed fees, copies of entries in books kept by such holder which relate to the transaction.(2)A person shall not be guilty of an offence by reason only of a breach of any rule made under this section.