ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Currency Handling) Regulations
8. Keeping of records
Edition: 2022-12-31 · In force
8. Keeping of records
(1)A person licensed under regulation 4 shall keep proper records and accounts of any cash, in notes or coins, in transit at any given time, and shall, whenever required, produce for inspection by the Bank the records and accounts.(2)Upon defacement of notes in transit through explosion of cash defacement devices, the Bank shall consider the replacement of the defaced notes that tallies with the records held by the cash in transit operator at the time of explosion of the defacement device and the Bank shall not consider for replacement any notes defaced without records.(3)Any person licensed to operate a cash defacement device who fails to keep proper records and accounts shall, upon determination by the Bank that proper records or accounts are not kept, be liable to a penalty not exceeding fifty thousand shillings and in addition to a daily surcharge of five thousand shillings if the breach is not remedied within the time specified for that purpose by the Bank.