ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
51. Dividends without writing off capitalized expenditure
Edition: 2025-07-09 · In force
51. Dividends without writing off capitalized expenditure
(1)An institution incorporated in Kenya, which pays a dividend on the shares of the institution or other form of distribution, without writing off all the capitalised expenditure and making a provision for loans, advances and other assets of the institution, commits a violation and is liable, upon assessment, to a penalty not exceeding twenty million shillings or three times the gross amount of the monetary gain made or loss avoided by the institution.(2)An officer of an institution found liable for the violation in paragraph (1), commits a violation and is liable, upon assessment, to a penalty not exceeding one million shillings.