ADVOKS GLOBAL · KENYA
Special Economic Zones Act
23. Annual estimates
Edition: 2026-05-15 · In force
23. Annual estimates
(1)At least three months before the commencement of each financial year, the Board shall cause to be prepared estimates of the revenue and expenditure of the Authority for that year.(2)The annual estimates shall make provisions for all the estimated expenditure of the Authority for the financial year and in particular the estimates shall provide for—(a)the payment of allowances and the charges in respect of the directors and the salaries, allowances and other charges in respect of staff of the Authority;(b)the payment of pensions, gratuities and other charges in respect of staff of the Authority;(c)the proper maintenance of the buildings and grounds of the Authority;(d)the maintenance, repair and replacement of the equipment and other property of the Authority;(e)the creation of such reserve funds to meet future or contingent liabilities in respect of retirement benefits, insurance or replacement of buildings or equipment, or in respect of such other matters as the Board may deem appropriate;(f)the funding of promotion and marketing of special economic zones;(g)the funding of training, research and development activities of the Authority; and(h)any other expenditure incurred by the Authority in the exercise, discharge, and performance of its functions this Act.(3)The annual estimates shall be approved by the Board before the commencement of the financial year to which they relate and shall be submitted to the Cabinet Secretary for approval and after the Cabinet Secretary's approval, the Board shall not vary the annual estimates of the Authority without the consent of the Cabinet Secretary.