Retirement Benefits Act

7. Powers of the Board

Edition: 2025-06-20 · In force

7. Powers of the Board

The Board shall have all powers necessary for the performance of its functions under this Act and in particular, the Board shall have power to—

(a)control, supervise and administer the assets of the Authority in such manner and for such purposes as best promote the purpose for which the Authority is established;

(b)determine the provisions to be made for capital and recurrent expenditure and for reserves of the Authority;

(c)receive any grants, gifts donations or endowments on behalf of the Authority and make legitimate disbursements therefrom;

(d)enter into association with other bodies or organizations within or outside Kenya as the Board may consider desirable or appropriate and in furtherance of the purpose for which the Authority is established;

(e)open a banking account or banking accounts for the funds of the Authority; and

(f)invest funds of the Authority not currently required for its purposes in the manner provided in section 18.

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Source: Kenya Law