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Finance · Mombasa County Assembly
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Knowledge Units
934
Structured sections prepared
Words Analysed
48,689
Approximate content size
Pages
-
Detected or estimated
Status
Active
Document lifecycle
Active
Document lifecycle
Structure Detected
Chapters
0
Parts
11
Articles
4
Sections
219
Readiness
✓ Search Ready
✓ Citation Ready
✓ AI Retrieval Ready
Advanced: View Knowledge Units
Knowledge Unit #331
34 words
52. Persons authorized to execute loan documents at national government
(1) The Cabinet Secretary or any person designated by the Cabinet Secretary
in writing is authorised to execute loan documents for borrowing by the national
government.
Knowledge Unit #332
47 words
(2) Despite the provisions of subsection (1), the following persons are
authorised to execute loan documents for borrowing by a National government
entity—
(a) the accounting officer responsible for the entity; or
(b) any other specified officer authorised by legislation to execute such
documents on behalf of the entity.
Knowledge Unit #333
34 words
53. Issuance of securities by national government
(1) The national government may issue national government securities,
whether for money that it has borrowed or for any other purpose, only in
circumstances expressly authorised by this Act.
Knowledge Unit #334
37 words
(2) The Cabinet Secretary may issue national government securities on behalf
of the national government for money borrowed by the national government in
accordance with criteria prescribed by regulations approved by Parliament for the
purpose of this subsection.
Knowledge Unit #335
26 words
(3) Any national government securities issued by the Cabinet Secretary under
this section shall be within the borrowing limits set out by the National Assembly
under section 50(2).
Knowledge Unit #336
20 words
(4) The authority of the Cabinet Secretary to borrow money includes the
authority to borrow money by issuing national government securities.
Knowledge Unit #337
17 words
(5) National government securities may be issued in one or more series and
in accordance with prescribed regulations.
Knowledge Unit #338
44 words
(6) An agreement to obtain a loan by the national government or a national
government entity may be amended from time to time and where the amendment
results in further indebtedness or prejudice to the entity that borrowed, the
amendment shall be approved by Parliament.
Knowledge Unit #339
30 words
(7) The Cabinet Secretary shall ensure that every national government security
issued under this section is given in the name of the Republic of Kenya.
44
[Rev. 2020]
Public Finance Management
No. 18 of 2012
Knowledge Unit #340
39 words
(8) A national government security may be executed on behalf of the national
government only by—
(a) the Cabinet Secretary;
(b) a delegate appointed by the Cabinet Secretary; or
(c) a borrowing agent appointed for the purposes of this Act.