78
CAP. 411A
Kenya Information and Communications
[Rev. 2011
by the Board for the purposes of and the administration of the Fund.
Application for grant
of fund loan.
1 of 2009, s.31.
Conditions for grant
of loan.
1 of 2009, s.31.
84L. Any person may make an application to the Board for
consideration for the grant of a loan from the Fund in the prescribed
form.
84M. (1) The Board may—
(a) accept or reject any application for a loan;
(b) grant a loan to an applicant and in so granting may impose
conditions, demand security and require repayment in
instalments at such times and within such periods as the
Board deems fit;
Provided that, and subject to the provisions of this section, the
Board may upon the request by an applicant to whom a loan has been
granted at any time vary—
(i) the conditions upon which the loan was made;
(i) any security given in relation to the loan; or
(ii) any of the terms of repayment of the loan.
(2) Where the Board has resolved to grant a loan, the Board shall
notify the applicant in writing and require him within a specified period
not exceeding six months to comply with any conditions and provide
any security which the Board may have imposed or demanded.
(3) Where an applicant fails to comply with a requirement of the
Board notified to him under sub-section (2) within the prescribed period,
the application shall be deemed to have lapsed.
Penalties for delayed
remittances.
1 of 2009, s.31.
84N. Where an applicant fails to make the repayments of
instalments on the loan within the prescribed period, the Board may
impose penalties for each month or part of the month that the repayments
remain unpaid.
Fund’s annual returns
and audit.
1 of 2009, s. 31.
No. 12 of 2003.
84O. The Board shall comply with the Public Audit Act as regards
the operations of the Fund.
Regulations with
respect to the Fund.
1 of 2009, s. 31.
84P. The Minister may, in consultation with the Commission,
make regulations generally with respect to the administration of the
Fund and without prejudice to the generality of the foregoing, with
respect to—