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Building Societies Regulations, 1956 🇰🇪


REPUBLIC OF KENYA

Building Societies Act, 1956

Legal Notice No. 378

Building Societies Regulations, 1956

  • Commenced on 6 June 2024
  • [This is the version of this document from 6 June 2024.]
  • [Note: The original publication document is not available and this content could not be verified.]
An Act of Parliament to provide for the formation and registration of building societies; and for matters incidental thereto and connected therewith

Part I – PRELIMINARY

1. Short title

This Act may be cited as the Building Societies Act.

2. Interpretation

In this Act, unless the context otherwise requires—"annual licence" means an annual licence issued in accordance with section 12B;"basic advance", in relation to an advance made or to be made by a building society for the purpose of its being used in defraying the purchase price of land, means the maximum amount which the society would consider proper to advance upon the security of that land if no other security were taken by the society;"board of directors", in r…

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