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The Capital Markets (Coffee Exchange)(Fees) Regulations, 2024

Legal Notice 9 of 2025

The Capital Markets (Coffee Exchange)(Fees) Regulations, 2024
Citation
Legal Notice 9 of 2025
Primary work
Capital Markets Act
Date
7 February 2025
Language
English
Type
Legal Notice
Original enactment
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LAWS OF KENYA

CAPITAL MARKETS ACT

THE CAPITAL MARKETS (COFFEE EXCHANGE)(FEES) REGULATIONS, 2024

LEGAL NOTICE 9 OF 2025

  • Published in Kenya Gazette Vol. CXXVII—No. 25 on 7 February 2025
  • Commenced on 30 January 2025

1. Citation

These Regulations may be cited as the Capital Markets (Coffee Exchange) (Fees) Regulations, 2024.

2. Interpretation

In these Regulations, unless the context otherwise requires—“broker” has the meaning assigned to it under regulation 2 of the Capital Markets (Coffee Exchange) Regulations;“buyer’’ has the meaning assigned to it under regulation 2 of the Capital Markets (Coffee Exchange) Regulations;“coffee exchange” has the meaning assigned to it under regulation 2 of the Capital Markets (Coffee Exchange) Regulations;“coffee sales proceeds” means monetary consideration received at the direct settlement system in exchange for clean coffee sold at a coffee exchange or, where applicable, through direct sales;“direct settlement system” means a banking facility provided by a commercial bank regulated by the Central Bank of Kenya for the clearing and settlement of coffee proceeds; and“member” means any person who has been admitted as a member of a coffee exchange.

3. Object of the Regulations

The object of these Regulations is to provide for—
(a)the maximum fees payable for coffee sold at a coffee exchange; and
(b)the annual membership fees payable by members of a coffee exchange to the exchange.

4. Transaction fees

(1)A fee not exceeding one-point-eight per cent of the gross value of coffee sold at a coffee exchange shall be deducted from the coffee sales proceeds through the direct settlement system by the coffe exchange.
(2)The coffee exchange shall, through the direct settlement system, apportion the fee deducted under subregulation (1) within twenty-four hours of receipt of the funds from the buyer in the proportions set out in the First Schedule.
(3)The Authority may direct the coffee exchange to remedy or mitigate the effect of any breach of subregulation (2).

5. Membership fees

A member of a coffee exchange shall pay an annual membership fee to the coffee exchange at the rate specified in the Second Schedule.

FIRST SCHEDULE (r. 4(2))

TRANSACTION FEES

S/No.Transaction feesPercentage of transaction fees tobe apportioned
1.Broker fees1%
2.Coffee exchange fees0.3%
3.Direct settlement system provider fees0.3%
4.Capital Markets Authority statutory fees0.2%

SECOND SCHEDULE (r. 5)

MEMBERSHIP FEES

S/No.Category Fee(KSh.)
1.Brokers75,000
2.Category 1 Buyers – Buying more than 1% of annual coffee traded75,000
3.Category 2 Buyers – Buying less than 1% of annual coffee traded50,000
4.Warehouse Operators (associate member)115,000
5.Millers (associate member)115,000
6.Transporters (associate member)115,000
7.Export bags providers (associate member)115,000
8.Input suppliers (associate member)115,000
9.DSS Providers (associate member)115,000
10Other Commercial Banks (associate member)115,000
11.Any Coffee or Commodity Fund (associate member)115,000
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History of this document

07 February 2025 this version
30 January 2025
Commenced