ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
8. Submission of annual budget
Edition: 2023-10-06 · In force
8. Submission of annual budget
(1)A securities exchange shall submit its annual budget to the Authority not later than thirty days before the commencement of its financial year.(2)Any revisions to the budget shall be submitted to the Authority not later than fifteen days before the commencement of its financial year.(3)The annual budget shall—(a)disclose details of revenue and expenditure as prescribed under these Regulations;(b)make provision for a minimum of twenty per cent of the total annual listing fees receivable each financial year to support the development of the securities exchange infrastructure and investor education programme.