The Central Bank of Kenya (Foreign Exchange Business) Regulations, 1996

Legal Notice 23 of 1996

Repealed

This Legal Notice was repealed on 2007-01-01 by The Central Bank of Kenya (Foreign Exchange Business) Regulations, 2007.

Citation: Legal Notice 23 of 1996
Primary work: Central Bank of Kenya Act
Date: 1 March 1996
Language: English
Type: Legal Notice
Publication: Download PDF (7.5 MB)

CENTRAL BANK OF KENYA ACT

THE CENTRAL BANK OF KENYA (FOREIGN EXCHANGE BUSINESS) REGULATIONS, 1996

LEGAL NOTICE 23 OF 1996

Published in Kenya Gazette Vol. XCVIII—No. 14 on 1 March 1996
Commenced on 1 March 1996

[Revoked by The Central Bank of Kenya (Foreign Exchange Business) Regulations, 2007 (Legal Notice 62 of 2007) on 1 January 2007]

1.

These Regulations may be cited as the Central Bank of Kenya (Foreign Exchange Business) Regulations, 1996.

2.

(1)An application for the grant or renewal of a licence to transact foreign exchange business shall be in Form CBK/ FXD/1 in the First Schedule and shall be accompanied by the prescribed fee.

(2)The Bank may require the applicant to supply such additional information in support of the application as it may consider necessary.

(3)A licence under this regulation shall be in Form CBK/ FXD/2 in the First Schedule.

3.

(1)Any person who—

(a)is licensed under the Tourist Industry Licensing Act (Cap. 381) to carry on any registered tourist enterprise; or

(b)owns or operates a duty free shop; or

(c)by the nature of his business, requires to transact regularly in foreign currency;

may, pursuant to the provisions of section 33A (3) of the Act on application, be permitted to receive foreign currency which shall be deposited with an authorized bank or sold to an authorized dealer.

(2)An application under paragraph (1) shall be in Form CBK/FXD/3 in the First Schedule.

(3)The Bank may require the applicant to supply such additional information in support of the application as it may consider necessary.

(4)The Bank's permission under this regulation shall be in Form CBK/FXD/4 in the First Schedule.