ADVOKS GLOBAL · KENYA
The Banking (Credit Reference Bureau) Regulations
53. Central Bank approval for voluntary liquidation
Edition: 2022-12-31 · In force
53. Central Bank approval for voluntary liquidation
(1)Where shareholders of a bureau pass a resolution to voluntarily wind up the bureau, the bureau shall apply to the Central Bank for approval to voluntarily wind up the bureau.(2)A bureau's application under paragraph (1) shall be accompanied by the following documents —(a)a copy of the minutes of the meeting of shareholders which passed the resolution for voluntary dissolution of the company;(b)the financial statements of the bureau on the date of the resolution, with a report from a credible external auditor;(c)a sworn statement from the Chief Executive Officer of the bureau confirming that there are no workers', corporate or tax obligations pending against the bureau and that the bureau is able to meet the obligations of all its creditors; and(d)the names and professional record of the person proposed for appointment as the liquidator of the bureau.(3)Where the Central Bank is fully satisfied with the merits of the application, it may approve the voluntary liquidation of the bureau on such conditions it may consider appropriate.(4)Where the Central Bank is not satisfied with the application, it may give such directions as it may consider appropriate.