ADVOKS GLOBAL · KENYA
The Central Depositories (Regulation of Central Depositories) Rules
15. Establishment of the Central Depositories Guarantee Fund
Edition: 2025-02-14 · In force
15. Establishment of the Central Depositories Guarantee Fund
(1)There is established a fund to be known as the Central Depository Guarantee Fund (hereinafter referred to as Fund) for the purposes of ensuring settlement of trades through the central depository.(2)The Fund shall consist of—(a)a contribution of Kenya Shillings one million five hundred thousand (or such higher amount as the central depository may from time to time, in consultation with the Authority and the Nairobi Stock Exchange, determine) by such central depository agents as will be involved in settlement;(b)all penalties and fines imposed by the central depository;(c)such sums of money as accrued from interest and profits from investing the Fund’s moneys;(d)a levy for every transaction through the securities exchange as approved by the Authority;(e)such contribution from the revenue of the central depository as its Board may from time to time determine;(f)funds hitherto constituting the Nairobi Stock Exchange Investor Compensation Fund; and(g)such other funds as the Board of the central depository, with the approval of the Authority may determine.