ADVOKS GLOBAL · KENYA
The Banking (Credit Reference Bureau) Regulations
9. Refusal to issue a licence
Edition: 2022-12-31 · In force
9. Refusal to issue a licence
(1)A person aggrieved by the refusal of the Central Bank to issue a licence under these regulations may, within twenty-one days from the date of the refusal, apply to the Cabinet Secretary in writing for a review of the Central Bank's decision.(2)The Cabinet Secretary shall, while considering an application under paragraph (2), consider the material in the administrative record relating to the application for a license and may invite the Central Bank or the applicant or both to make presentations with respect to the application for review.(3)The Cabinet Secretary may reverse the decision of the Central Bank if—(a)the Central Bank failed to follow the laid down procedure;(b)the decision was contrary to law;(c)there was no factual basis for the decision; or(d)based on a review of the record, there was a manifest error in the assessment of facts relating to the application for registration; or(e)based on a review of the record, the Central Bank abused its discretion.(4)A person dissatisfied by the decision of the Cabinet Secretary may appeal to the High Court against the decision and the decision of the High Court shall be final.