State Corporations Act
17. Restriction on loans to Board members and staff
17. Restriction on loans to Board members and staff
Notwithstanding any other written law establishing a state corporation or its memorandum and articles of association no state corporation shall grant to a member of the Board or staff any loan or advance or arrange any credit facility for him except in accordance with regulations made by the state corporation under this section and approved by the Treasury, but in the absence of those regulations such loan, advance or credit facility may be granted in accordance with terms and conditions approved by the Committee.Source: Kenya Law