ADVOKS GLOBAL · KENYA
The Capital Markets (Investment-Based Crowdfunding) Regulations
10. Denial of grant of license
Edition: 2022-12-31 · In force
10. Denial of grant of license
(1)The Authority shall not refuse to grant a licence without first giving the applicant an opportunity to be heard.(2)If the Authority, after hearing the applicant, refuses to grant a licence, it shall communicate the decision to the applicant within fourteen days of the decision, stating the grounds for refusal.(3)An applicant aggrieved by the decision of the Authority may appeal against such refusal to the Capital Markets Tribunal within fifteen days of communication of the decision.