ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019
48. Reporting requirements, on-site and off-site monitoring
Edition: 2022-12-31 · In force
48. Reporting requirements, on-site and off-site monitoring
(1)A mortgage refinance company shall be subject to the Bank's on-site and off-site monitoring and shall make periodic reports in accordance with the form, instructions and schedules specified by the Bank including—(a)quarterly financial statements;(b)semi-annual financial statements;(c)annual audited financial statements; and(d)any other information which, in the opinion of the Bank, is relevant to the discharge of its supervisory role under this regulation.(2)The reports under sub-regulation (1) shall be submitted no later than thirty days after the end of each reporting period in the case of paragraph (a) and (b) and three months in the case of paragraph (c).(3)The financial statements shall be prepared in accordance with international financial reporting standards and such accepted Kenyan reporting standards as may be prescribed.(4)Any person who contravenes the provisions of this regulation commits an offence and is liable, on conviction, to a fine not exceeding five hundred thousand shillings, or to imprisonment for a term not exceeding three years, or to both.