The Capital Markets (Commodity Markets) Regulations

4. Application for licence

Edition: 2022-12-31 · In force

4. Application for licence

(1)A person who intends to establish a commodity exchange shall apply to the Authority for licensing in Form A set out in the First Schedule.

(2)An application for licensing under paragraph (1) shall be accompanied by—

(a)copies of memorandum and articles of association;

(b)rules governing the operations of the commodities exchange;

(c)details of trading, clearing and settlement systems proposed to be adopted by the applicant;

(d)the application fees set out in the Second Schedule;

(e)satisfactory bank references;

(f)a business feasibility plan evaluated by an entity with a proven track record and expertise in commodity markets or commodity market development, establishment or management; and

(g)any additional documents as the Authority may require.

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Source: Kenya Law