ADVOKS GLOBAL · KENYA
Privatization Act
2. Interpretation
Edition: 2026-03-25 · In force
2. Interpretation
(1)In this Act, unless the context otherwise requires—“Authority” means the Privatization Authority established under section 8;“Board” means the Board of the Authority constituted under section 10;“Cabinet Secretary” means the Cabinet Secretary responsible for matters relating to finance;“Corporation Secretary” means the Corporation Secretary appointed in accordance with section 18;“divestiture” means disposing of whole or part of the assets or shares of a public entity;“Managing Director” means the Managing Director of the Authority appointed under section 17;“government-linked corporation” means a corporation in which the National Government or a national government entity is a shareholder with less than fifty per centum of the share capital of the corporation;“privatization” means a transaction that results in a transfer, other than to a public entity, of the assets and or liabilities of a public entity including the shares in a public entity;“Privatization Programme” means the Privatization Programme provided for under section 35;“Privatization Proposal” means a proposal provided for under section 20;“public entity” includes —(a)a national government-linked corporation;(b)a subsidiary of a national government corporation; or(c)a state corporation within the meaning of the State Corporations Act (Cap. 446); and“secondary market” means a financial market in which previously issued financial instruments such as shares and other marketable securities are traded.