ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Foreign Exchange Bureau) (Penalties) Regulations
8. Debt due to the Bank
Edition: 2022-12-31 · In force
8. Debt due to the Bank
(1)Where any provision of these Regulations imposes a penalty on any foreign exchange bureau or a person and, either the penalty or part of the penalty remains unpaid, the unpaid amount of the penalty shall constitute a civil debt due from a foreign exchange bureau or a person to the Bank.(2)The Bank may—(a)in addition to the provisions of regulation 6(4), institute civil proceedings against a foreign exchange bureau or a person for the recovery of the penalty; or(b)direct that any part of the penalty which remains unpaid after a particular period notified to the foreign exchange bureau, shall constitute a debt payable by the foreign exchange bureau.