ADVOKS GLOBAL · KENYA
Prevention of Fraud (Investments) Act
9. Application for, and grant and extent of, licences
Edition: 2023-12-11 · Not commenced
9. Application for, and grant and extent of, licences
(1)Subject to the following provisions of this Part, the Minister upon application in that behalf made by any person in the prescribed manner, and on payment of the prescribed fee, shall grant to that person a principal’s licence.(2)A licence shall, unless it is in the meantime revoked, be valid for the period of one year beginning with the day specified in the licence as the day on which it takes effect.(3)A principal’s licence shall specify the name for the person thereby authorized to carry on the business of dealing in securities, and shall not authorize such person to carry on that business under any name other than that specified in the licence as his name:Provided that, if the Minister thinks fit, such a licence may, at the request of the applicant therefor, be framed so as to authorize the holder thereof to carry on the said business, either alone or jointly with any other person being the holder of a principal’s licence, under such name or style as the applicant may specify in his application.