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Finance · Mombasa County Assembly
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NUKE has analysed this document and prepared it for structured search and AI retrieval.
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 #351
35 words
(3) Any external loans or external government securities issued by the Cabinet
Secretary under this section shall be within the borrowing limits set by Parliament
under section 50(2) of this Act.
45
No. 18 of 2012
Public Finance Management
[Rev. 2020]
Knowledge Unit #352
24 words
(4) The authority of the Cabinet Secretary to borrow money includes the
authority to borrow money by raising external loans or issuing external government
securities.
Knowledge Unit #353
27 words
(5) The Cabinet Secretary shall ensure that every external loan or external
government security issued under this section is given in the name of the Republic
of Kenya.
Knowledge Unit #354
45 words
(6) An external loan or external 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, in writing; or
(c) a borrowing agent appointed in accordance with section 50(9) of this
Act.
Knowledge Unit #355
26 words
(7) For the purposes of subsection (6), it shall be sufficient if the signature of
a person who is required to execute an external government security under this
Knowledge Unit #356
30 words
section is reproduced on the security.
(8) External government securities shall be registered and may be recorded
and traded in accordance with the terms and conditions of the external government
security.
Knowledge Unit #357
57 words
(9) Claims against the borrower or issuer by holders of external loans or
external government securities for payment shall be prescribed and become void
if the claims are not made within six (6) years from the redemption date in the case
of principal and five years from the due date in the case of interest or any other
amount.
Knowledge Unit #358
44 words
(10) In the case of external government securities, a duplicate external
government security may be issued in accordance with the terms and conditions
applicable to the external government security to replace an external government
security that is lost, damaged or destroyed.
[Act No. 6 of 2014, s. 7.]
Knowledge Unit #359
22 words
54. Exemption from stamp duty
Duty is not chargeable under the Stamp Duty Act (Cap. 480) for the issue of a
national government security.
Knowledge Unit #360
34 words
55. Establishment of the office of Registrar of national government securities
(1) There is established an office of the Registrar of the National Government
Securities which shall be an office under the Public Debt Management Office.