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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
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Chapters 0
Parts 11
Articles 4
Sections 219
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Knowledge Unit #711
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 13
44 words
(13) Subject to this Act or any other legislation, secondary trading of county government securities may be carried out only in such manner as may be prescribed by regulations made for the purposes of this subsection and in accordance with the provisions of this Act.
Knowledge Unit #712
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 14
24 words
(14) In this section, “secondary trading” means any activity leading to a change in the ownership of a county government security before its redemption date.
Knowledge Unit #713
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 15
22 words
(15) Nothing provided under this section shall prevent county government securities to be issued and exist in electronic form as a debt entry.
Knowledge Unit #714
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 16
78 words
(16) If the proceeds of a county government security have not been collected by, or cannot be paid to, the holder of the security because the whereabouts of the holder or, if the holder has died, the whereabouts of the holder’s personal representatives, are unknown, the County Executive Committee member for finance shall arrange for the County Treasury to credit the amount of money due to the holder to an interest free account for the holder’s benefit.
Knowledge Unit #715
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 17
63 words
(17) If, after six years from the redemption date of a county government security, the proceeds of the security have not been collected by, or paid to, the holder or the holder’s personal representatives, the County Executive Committee member for finance shall return the uncollected amount to the County Exchequer Account to form part of the County Revenue Fund in accordance with regulations.
Knowledge Unit #716
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 18
30 words
(18) The right of any person who has a legitimate claim to the proceeds of a security is not affected by the payment of the proceeds into the County Revenue Fund.
Knowledge Unit #717
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 19
19 words
(19) The County Executive Committee member for finance shall publish and publicise annually all payments made in terms of subsection (17).
Knowledge Unit #718
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 144 · Subsection 20
18 words
(20) Duty is not chargeable under the Stamp Duty Act (Cap. 480) for the issue of a county government security.
Knowledge Unit #719
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 145 · Subsection 1
22 words
145. County government authorised to lend money (1) A county government entity may lend money in accordance with this Act or any county legislation.
Knowledge Unit #720
Page - · Part IV – COUNTY GOVERNMENT RESPONSIBILITIES WITH · Article 119 of the Constitution in respect of the action taken to stop the transfer · Section 145 · Subsection 2
67 words
(2) The County Executive Committee member for finance may, in relation to any money lent by the county government under this section— (a) accept, in consultation with the Central Bank of Kenya, all money payable under the loan in any currency the County Executive Committee member for finance considers appropriate; and (b) agree at any time to the variation of any security given in respect of the loan.