ADVOKS GLOBAL · KENYA
Proceeds of Crime and Anti-Money Laundering Act
36A. Responsibility for supervision of Reporting Institutions
Edition: 2025-11-04 · In force
36A. Responsibility for supervision of Reporting Institutions
(1)The Centre shall have the powers to regulate and supervise all reporting institutions, regarding the application of this Act.(2)Subject to subsection (1), each supervisory body or Self-regulatory body shall be responsible for supervising and enforcing compliance with this Act or any instruction, direction, guideline or rule made pursuant to or in terms of this Act by all reporting institutions regulated or supervised by it and to whom the provision of this Act apply.(3)The obligation referred to in subsection (2) shall form part of the legislative mandate of any supervisory body or Self-regulatory body and shall constitute a core function of that supervisory body.(3A)A supervisory body or Self-regulatory body shall, in carrying out its mandate under this Act, apply its regulatory and supervisory powers and obligations conferred to it under any written law for purposes of supervision and enforcement of the obligations to combat money laundering, terrorist financing and proliferation financing.(4)Any law which regulates a supervisory body or Self-regulatory body or authorises that supervisory body or Self-regulatory body to supervise or regulate any reporting institution to whom the provisions of this Act apply, shall take account of subsection (2), and a supervisory body or Self-regulatory body may utilise any fees or charges it is authorised to impose or collect to defray expenditure incurred in performing its obligations under this Act or any order, determination or directive made in terms of this Act.(5)A supervisory body or Self-regulatory body, in meeting its obligation referred to in subsection (2), may—(a)in addition to any powers it has under any other Act, exercise any power afforded to it in this Act;(b)take any measures it considers necessary or expedient to meet its obligations as imposed by this Act or any order, determination, instruction, directive or rule made in terms of this Act, or achieve the objectives of the Centre of this Act;(ba)in writing, direct any reporting institution to—(a)provide information, reports or statistical returns at such intervals as may be prescribed from time to time;(b)cease or refrain from engaging in any act, omission or conduct in contravention of this Act;(c)perform such act as may be necessary to remedy alleged non-compliance with this Act; or(d)perform such act as may be necessary to meet any obligation imposed by this Act.(c)require a reporting institution supervised or regulated by it and to whom, the provisions of this Act apply, to report on that institution's compliance with this Act or any order, determination, instruction, directive or rule made under this Act in the form manner and within the period determined by the supervisory body or Self-regulatory body;(d)issue or amend any licence, registration, approval or authorisation that the supervisory body or Self-regulatory body may issue or grant in accordance with any Act, to include the following conditions—(i)compliance with this Act;(ii)the continued availability of human financial, technological and other resources to ensure compliance with this Act or any order, determination or directive made under this Act; and(e)in making a determination in accordance with any Act applicable to it as to whether a person is fit and proper to hold office in a reporting institution, take into account any involvement, whether directly or indirectly, by that person in any non-compliance with this Act or any order, determination, instruction, directive or rule made in terms of this Act, or any involvement in any money laundering, terrorism financing or proliferation financing activity.(6)A supervisory body or Self-regulatory body shall submit to the Centre, within such period and in such manner, as the Centre may prescribe, a written report on any action taken against any reporting institution in terms of this Act or any order, determination, directive, instruction, or rule made under this Act.(7)The Centre and each supervisory body or Self-regulatory bodyshall co-ordinate the exercising of their powers and performance of their functions under this Act to ensure consistent application of the Act, and may for such purpose; enter into a written memorandum of understanding in respect thereof.(8)Notwithstanding the provisions of subsection (1) or any other provision of this Act, the Centre may require a reporting institution to report on that institution's compliance with this Act or any order, determination, instruction, or direction in the manner and within such period as may be determined by the Centre.