ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019
31. Review of assets and reporting
Edition: 2022-12-31 · In force
31. Review of assets and reporting
(1)Every mortgage refinance company shall, at least once every year, review its assets and make necessary provisions as the need arises, if an actual loss of an asset occurs or when the recoverable amount of the asset is less than its carrying value.(2)Every mortgage refinance company shall submit a copy of the review report to the Bank within fifteen days from the date of the review.(3)Every mortgage refinance company shall submit returns in such manner as may be provided by the Bank.(4)A mortgage refinance company that fails to submit accurate information to the Bank on a timely basis is liable to such administrative sanction as may be provided by the Bank.(5)A mortgage refinance company that contravenes this regulation is liable to any of the sanctions provided for under in regulation 57.