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Summary: Betting, Lotteries, and Gaming Act
The Government of Kenya regulates gambling activities through the Betting, Lotteries, and Gaming Act as the primary legislation. There is a proposed legislation known as Gaming Bill, 2019 that will repeal the BLGA, if it becomes law. The Gaming Bill, 2019 will have immense impact in the gambling industry.
Corporate & Individual Immigration, Kenya
Foreign Companies – New Entrants (NE) – looking forward to investing in Kenya need to understand the new environment that the investors’ will be interacting with for several years before securing some of the services rendered by professional service providers. In that regard, we provide information on such essential details that may matter to an investor.
COVID19 IMPACT ON CORPORATE RELATED LAWS IN KENYA
legislative, social, political, religious, and economic structures. These shocks have seen massive disruption in how various entities operate to stay afloat with the new normal. It resulted in multiple adjustments in Kenya and pushed the government to appreciate “digital” practices.
Corporate Structuring for Local and Foreign New Entrants
Shareholding of an undertaking is likely to be affected where the undertaking is owned by a foreigner and requires licenses from Sector-Specific Government Agencies. Sector Specific Government Agencies such as the Capital Markets Authority, Communication Authority, Energy and Petroleum Regulatory Authority. These Government Agencies will require that specific percentage of the shares be allocated to a Kenyan Citizen.
Review of Data Regulations in Kenya
A data controller or processor interested in securing consent must – through written, oral, audio, or video notice – disclose to the data subject its/her/his identity, the purpose of processing, type of personal data, use, possible risks, sharing of data, right to withdraw, and implications of providing, withholding, or withdrawing consent. However, in certain instances, the data processor or controller may bypass all these requirements under a lawful basis as per the meaning of the Data Protection Act (DPA).
Comments on Central Bank Digital Currency (CBDC) by Ong’anya Ombo Advocates
It is clear that CBK cannot risk running the CBDC as a monopoly, and even if it does, for a start, it will require the input of the retailers or PSPs in the financial sector. In that regard, it already gives a pictorial composition of what type of CBDC architecture CBK will need to adopt. Drawing inspiration from CMA, CBK should consider providing room for Sandbox Regulations on onboarding processes as most PSPs and retailer financial institutions would prefer getting more innovative with the introduction of the CBDC.
Data Protection Regulations
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GoodFirms Identify Ong’anya Ombo Advocates as One of The Best Law Firms in Kenya
Ong'anya Ombo Advocates LLP is a multi-service law firm registered in Kenya with a functional office in Nairobi, Kenya. The organization delivers dedicated strategic legal services to natural and juridical people in Kenya and outside Kenya. When forming the Law...
Law of Succession (Amendment) Act
The Law of Succession Act has been amended by introducing new a definition and revising pre-existing definitions through the Law of Succession (Amendment) Act. Initial StatusAmendments IntroducedCommentsNo definition of “spouse”Law of Succession (Amendment)...
Foreign Investors Regulations
The regulation provides categories of investors as local and foreign investors. A local investor, if an individual, is a natural person who is a citizen of an East African Community Partner State while, if a body corporate, is a company or anybody corporate...
Security Lending, Borrowing and Short-Selling Regulations
Securities lending and borrowing The regulation covers transactions involving the lending and borrowing of securities. These transactions must be conducted according to the regulations, and where there is a need for an exemption for a sell buy-back or a transaction...
Registered Venture Capital Companies Regulations
A person that intends to operate under the venture capital sphere is generally registered under the Companies Act. However, that does not designate it as a “registered venture capital company” because it only takes effect upon registering it as a “venture capital...
Online Foreign Exchange Trading Regulations
Online Foreign Exchange Trading Introduction The regulation covers entities that intend to operate an online trading platform as dealing or non-dealing broker and money managers. An entity interested in operating in the mentioned fields will make an application...
Collective Investment Schemes Regulation
Collective Investment Schemes Introduction The regulations address the types and regulatory requirements to register and operate a Collective Investment Scheme (CIS) in Kenya. To register a CIS, the promoters must secure consent from the CMA before formal...
Corporate Governance (Market Inter) Regulations
The regulations provide for the bare minimum requirements for the operations and organizational requirements of the market intermediaries. Compliance with these regulations eases the relationship between the market intermediary and the regulator (CMA), not to mention...
Conduct of Business (Market Inter) Regulations
Conduct of Business regulations make it an obligation for market intermediaries to factor principles of best practice when proffering their services or engaging in practices pertaining to market intermediaries. There is more emphasis on observing a high standard of...
Take Overs and Mergers Regulations
Take overs and mergers are controlled by various government agencies, including the CMA. Other noticeable include the Competition Authority of Kenya for general take-over and merger while other sector-specific regulatory bodies weigh in on similar transactions....
Derivatives Markets Regulations
In the derivative financial markets, one will encounter various contracts such as the forwards, futures, options, and swaps traded through platforms like securities exchange licensed to trade derivative contracts. CMA is required to be provided with these contracts...
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