ADVOKS GLOBAL · KENYA
The Banking (Liquidation of Institutions) Regulations
4. Power to waive proof of debt
Edition: 2022-12-31 · In force
4. Power to waive proof of debt
(1)Where the Board has been appointed as liquidator of an institution, it may, if it deems fit, admit the claim of any depositor or class of depositors without submission of formal proof of debt and shall notify the depositor or depositors concerned accordingly.(2)Any depositor who is dissatisfied with the decision of the Board may apply to the Court in the same manner as a dissatisfied creditor under the provisions of the Companies (Winding-up) Rules (Winding-up) Rules (Cap. 486, Sub. Leg.).