ADVOKS GLOBAL · KENYA
Sacco Societies Act
49. Powers of the Authority to inspect
Edition: 2025-06-20 · In force
49. Powers of the Authority to inspect
(1)The Authority may, at any time and from time to time, and shall, if so directed by the Cabinet Secretary, cause an inspection to be made by any person authorized by the Authority in writing of any Sacco society and of its books, accounts and records.(2)The Authority shall assist any investigative authority regarding matters of suspected fraud or malpractice in Sacco societies either by identification of such matters for referral or at the request of such authority.(3)Where an inspection is made under subsection (1), the society concerned and every officer or employee thereof shall produce and make available to the person making the inspection, all books, accounts, records and other documents of the Sacco society and such correspondence, statements and information relating to the society as the person making the inspection may require, and within such period as he may direct in writing.(4)A person who fails to produce any books, accounts, records, documents, correspondence, statements or the information required under subsection (2), within the period specified in the relevant direction, commits an offence.(5)The person making the inspection shall prepare and submit a report to the Authority, and the report shall state—(a)any breach or contravention of any of provisions of this Act or any regulations made under this Act;(b)any irregularity in the manner of conduct of the inspected society;(c)any mismanagement of a Sacco society; and(d)any other matter relating to a Sacco society not consistent with sound and prudent business practice.(6)A copy of the report of the findings of an inspection under subsection (1) shall be submitted by the Authority to the Commissioner.(7)A report of the findings of an inspection under subsection (1) shall, in addition to any action that may be taken under the Co-operative Societies Act (Cap. 490) be presented by the Authority to the board of directors of the Sacco society.