ADVOKS GLOBAL · KENYA
The Capital Markets (Coffee Exchange) Regulations
11. Grant of licence
Edition: 2022-12-31 · In force
11. Grant of licence
(1)The Authority, shall, within thirty days from the date of application, grant a licence to an applicant, if the Authority is satisfied that the applicant is eligible to be licensed as a coffee broker.(2)The Authority shall duly inform the coffee exchange and the applicant of the grant of a licence under paragraph (1).(3)A licence granted under paragraph (1) shall remain valid until suspended or revoked.(4)The Authority shall not refuse to grant a licence without first giving the applicant an opportunity to be heard.(5)Where the Authority, after hearing the applicant, refuses to grant the applicant a licence, the Authority shall communicate the decision to the applicant and the coffee exchange within fourteen days of the hearing, stating the grounds for refusal.(6)An applicant aggrieved by the decision of the Authority under paragraph (5) may appeal against such refusal to the Capital Markets Tribunal within fifteen days of receipt of the decision of the Authority.