The Banking (Penalties) Regulations, 2025

19. Relating of non-significant shareholder wth uncertified person

Edition: 2025-07-09 · In force

19. Relating of non-significant shareholder wth uncertified person

A non-significant shareholder of an institution who continues to associate or relate with a particular person or institution, upon being notified by the Central Bank that the non-significant shareholder has not fulfilled the fit and proper criteria as set out in Part B of the First Schedule to the Act, commits a violation and is liable, upon assessment—

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

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

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Source: Kenya Law