The Banking (Penalties) Regulations, 2025

18. Voting by uncertified non-significant shareholder

Edition: 2025-07-09 · In force

18. Voting by uncertified non-significant shareholder

A non-significant shareholder of an institution who exercises voting rights without being certified by the Central Bank upon vetting under section 9A(3A) of the Act, commits a violation and is liable, upon assessment—

(a)where the shareholder is a corporate body, to a penalty not exceeding three million shillings; and

(b)where the shareholder is a natural person, to a penalty not exceeding one million shillings.

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Source: Kenya Law