ADVOKS GLOBAL · KENYA
The Capital Markets (Credit Rating Agencies) Regulations
9. Refusal to grant approval or certificate of recognition
Edition: 2023-12-15 · In force
9. Refusal to grant approval or certificate of recognition
(1)Where the Authority determines that approval or recognition should not be granted to an applicant, the Authority may, after giving the applicant a reasonable opportunity to be heard, refuse to grant the approval or certificate of recognition.(2)The decision of the Authority under subregulation (1) shall be communicated to the applicant in writing within thirty days after the decision has been made stating the grounds for the refusal to grant the approval or certificate of recognition.(3)An applicant that is aggrieved by the decision of the Authority to refuse to grant the approval or certificate of recognition may appeal against the decision to the Capital Markets Tribunal.