ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Foreign Exchange Bureau) (Penalties) Regulations
7. Additional penalty
Edition: 2022-12-31 · In force
7. Additional penalty
(1)Where the Bank is not satisfied either by evidence provided by a foreign exchange bureau or a person, or by information obtained by the Bank, that the violation has been rectified as directed, the Bank may prescribe additional penalties not exceeding ten thousand shillings in each case for each day or part thereof during which such contravention continues.(2)Once the Bank is satisfied that the violation has been rectified, the daily additional penalty of ten thousand shillings shall cease to accrue and the Bank shall assess the aggregate penalty.