ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
72. Response to notice of intended assessment
Edition: 2025-07-09 · In force
72. Response to notice of intended assessment
(1)Upon receiving the notice issued under regulation 71, a person suspected to have committed the violation may make a verbal response or submit a written response to the violation specified in the notice.(2)A person suspected to have committed the violation may submit such documents or other forms of proof as the person considers necessary within seven days of making the verbal response or submitting the written response under paragraph (1).(3)Where the Central Bank has not received a response under paragraphs (1) or (2), or where the response is submitted after the period specified in regulation 71(3), the Central Bank shall assess the suspected violation.(4)Despite paragraph (3), the Central Bank may, upon a request for the extension of the period under regulation 71(3) made in writing by a person to whom the notice was issued, consider the response made by the person.