Related documents
- Is amended by 24th Annual Supplement
LAWS OF KENYA
PUBLIC FINANCE MANAGEMENT ACT
THE PUBLIC FINANCE MANAGEMENT (BIASHARA KENYA FUND) REGULATIONS
LEGAL NOTICE 78 OF 2019
- Published in Kenya Gazette Vol. CXXI—No. 79 on 21 June 2019
- Commenced on 21 June 2019
- [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]
1. Citation
These Regulations may be cited as the Public Finance Management (Biashara Kenya Fund) Regulations.2. Interpretation
In these Regulations, unless the context otherwise requires —"Advisory Board" means the Advisory Board constituted under regulation 8;"Administrator" means the Principal Secretary of the State Department for the time being responsible for gender affairs or any other person designated by the Cabinet Secretary, in writing for that purpose;"borrower" means a person in receipt of a loan out of the Fund;"Cabinet Secretary" has the same meaning as assigned in section 2 of the Public Finance Management Act (Cap. 412A);"enterprise" means an undertaking or a business concern, whether formal or informal, engaged in the production of goods, provision of services or trade in goods;"financial intermediary" means a credible commercial bank, microfinance institution, registered non-governmental organisations involved in financing or savings and credit co-operative organisations;"financial year" means the period of twelve months ending on the 30th June in each year;"Fund" means the Biashara Kenya Fund established under regulation 3;"medium enterprise" means a firm, trade, service, industry or a business activity —Part II – ESTABLISHMENT OF THE FUND
3. Establishment of the Fund
There is established a Fund to be known as the Biashara Kenya Fund.4. Sources of the Fund
The Fund shall consist of —5. Expenditure of the Fund
6. Capital of the Fund
The initial capital of the Fund shall be two billion shillings appropriated by Parliament in the financial year 2019/20 and additional capital of the Fund shall be made in the subsequent financial years' budgets.7. Object and purpose of the Fund
The object and purpose of the Fund shall be to —Part III – MANAGEMENT OF THE FUND
8. Advisory Board
9. Qualifications of members of the Advisory Board
10. Functions of the Advisory Board
The Advisory Board shall—11. Administrator of the Fund
12. Secretariat and chief executive of the Fund
There shall be a secretariat of the Fund, headed by a Chief Executive Officer, which shall be responsible for the day-to-day running of the affairs of the Fund, and the Chief Officer Executive and staff of the secretariat shall be appointed competitively in consultation with the Public Service Commission.13. Eligibility criteria
14. Loan application procedure for direct lending by the Fund
History of this document
31 December 2022 this version
Revised by
24th Annual Supplement