ADVOKS GLOBAL · KENYA
Public Finance Management Act
87A. Sale of government shares in a government linked corporation
Edition: 2026-09-25 · In force
87A. Sale of government shares in a government linked corporation
(1)The National Government may sell or dispose of part or all its shares in a government linked corporation, with the approval of the Cabinet, which approval of the Cabinet, may only be given taking into account any recommendations of the National Treasury regarding the financial implications of the sale of such shares.(2)The sale of shares in a government-linked corporation shall only be done with the approval, by resolution, of the National Assembly.(3)Subject to subsection (2), the Cabinet Secretary shall submit the proposal for sale of shares in a government-linked corporation to the National Assembly for approval.(4)The request under subsection (3) shall be accompanied by an explanatory memorandum indicating—(a)a description of the government-linked corporation;(b)the total number or percentage of shares proposed to be sold;(c)the benefit to be gained from the proposed sale of shares;(d)the recommendations of the National Treasury regarding financial implications of such sale; or(e)any other recommendations.(5)The National Assembly shall consider the proposed sale within twenty-eight sitting days of receipt.(6)The Clerk shall notify the Cabinet Secretary of the decision of the National Assembly within seven days of the resolution of the National Assembly.(7)Where the National Assembly declines the proposed sale, the Clerk shall notify the Cabinet Secretary of the resolution of the National Assembly.