Sacco Societies Act

26. Conditions of a licence

Edition: 2025-06-20 · In force

26. Conditions of a licence

(1)The Authority shall endorse on a licence granted under this Act such conditions as it considers necessary and may from time to time add, vary or substitute such conditions as it deems appropriate.

(2)Where it appears to the Authority that there are reasonable grounds for the revocation of a licence, but that the circumstances are such as that the revocation would not be expedient or would be unjust to the members, the Authority may restrict the licence in accordance with subsection (3).

(3)A licence may be restricted by imposing—

(a)a limit on the duration of the licence for a period not exceeding one year; or

(b)such additional conditions for the protection of depositors as the Authority may deem necessary.

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Source: Kenya Law