ADVOKS GLOBAL · KENYA
The Capital Markets (Investment-Based Crowdfunding) Regulations
21. Use of funds
Edition: 2022-12-31 · In force
21. Use of funds
(1)The crowdfunding platform operator shall take reasonable steps to ensure that the funds raised through its platform are used for the stated purpose.(2)An issuer who uses the proceeds for any other purpose other than that stated or a purpose related thereto commits an offence and shall be liable to the penalties prescribed under the Act.