The Banking (Penalties) Regulations, 2025

55. Submission of audited balance sheet

Edition: 2025-07-09 · In force

55. Submission of audited balance sheet

(1)An institution which does not, within three months after the end of its financial year, submit to the Central Bank—

(a)an audited balance sheet, showing its assets and liabilities in Kenya;

(b)an audited profit and loss account covering its activities in Kenya; and

(c)the auditor's report,

prepared in the form specified in the Central Bank of Kenya Prudential Guideline on Publication of Financial Statements and Other Disclosures commits a violation and is liable, upon assessment, to a penalty not exceeding ten 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 five hundred thousand shillings.

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Source: Kenya Law