National Payment Systems (Consumer Protection) Regulations

1. Title

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Governing rule

This section states the governing statutory rule for “Title”.

“Title”

Primary legislation Source quotation matched

Practical effect

Use this section as the starting statutory rule for “Title”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

2. Interpretation

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Definition

This section supplies the definitions or statutory meaning governing “Interpretation”.

“Interpretation”

Primary legislation Source quotation matched

Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Interpretation”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

1. Title

These Regulations may be cited as the National Payment Systems (Consumer Protection) Regulations, 2022.

2. Interpretation

In these Regulations, unless the context otherwise requires-

"Act" means the National Payment Systems Act, 2020;

"card" means any card that may be used to pay for goods and services, to withdraw or deposit cash; <c consumer" means a person who uses or has used the products provided by a licensee or who has relied on information availed by the licensee;

"data" means information about a consumer collected, stored or processed by a licensee; "licensee" means a person licensed under the Act including a person approved to operate under the regulatory sandbox framework;

"management" means the executive committee of the licensee constituted by the board responsible for the day to day management of the affairs of the licensee.

3. Consumer protection policy

(1)

A licensee shall develop and maintain a consumer protection policy which is consistent with the provisions of these Regulations.

(2)

Without prejudice to the generality of subregulation (1), the consunjer protection policy shall provide for-

(a)

roles, responsibilities and training of staff members employed by the licensee or agents of the licensee in respect of consumer protection;

(b)

information sharing mechanisms on consumer protection among functional units including complaint statistics, fraud reports and legal claims;

(c)

accountability, transparency, complaint-handling processes and other redress channels;

(d)

control mechanisms to safeguard data, consumers' assets against incidences of fraud, misappropriation and misuse;

(e)

the conducting of an annual consumer protection audit in accordance with the consumer protection policy;

(0 the conducting of quarterly internal risk assessment to identify and assess data security risks on systems and appropriate controls to restrict and monitor access to the consumers' information database; and

(g)

any other matter as the Central Bank may direct in writing.

(3)

A licensee shall review the consumer protection policy at least every two years and submit the revised policy to the Central Bank indicating changes made within thirty days after approval by the board of the licensee.

(4)

The Central Bank shall review the policy submitted under subregulation (3) within thirty days from the date of submission to ensure that the policy complies with the Act.

(5)

A licensee who fails to comply with subregulations (1) and (3) shall be liable to pay a civil penalty of two hundred fifty currency points for each day of default.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Consumer protection policy”.

“(1) A licensee shall develop and maintain a consumer protection policy which is consistent with the provisions of these Regulations.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

11

(1) A licensee shall develop and maintain a consumer protection policy which is consistent with the provisions of these Regulations.
(2) Without prejudice to the generality of subregulation (1), the consunjer protection policy shall provide for-
(a) roles, responsibilities and training of staff members employed by the licensee or agents of the licensee in respect of consumer protection;
(b) information sharing mechanisms on consumer protection among functional units including complaint statistics, fraud reports and legal claims;
(c) accountability, transparency, complaint-handling processes and other redress channels;
(d) control mechanisms to safeguard data, consumers' assets against incidences of fraud, misappropriation and misuse;
(e) the conducting of an annual consumer protection audit in accordance with the consumer protection policy;
(g) any other matter as the Central Bank may direct in writing.

3 further items remain in the statutory text above.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

4. Responsibility of board of directors

(1)

The board of directors of a licensee shall be responsible for- (a) approving the policy on consumer protection prepared by a licensee under subregulation 3; (b) overseeing the implementation of the consumer protection policy; (c) ensuring that a licensee complies with provisions of the Act and these Regulations; and (d) verifying that management has put in place adequate processes for providing information necessary for monitoring and evaluation of the consumer protection initiatives through internal audit reports and risk management reports.

(2)

The board of directors shall, before approving the policy under subregulation (1) (a), ascertain that the policy is adequate to protect the interests of the consumer and that the policy is up-to-date. (3) Where the board of directors fails to perform the responsibilities of the board under this regulation, the licensee shall be liable to pay a civil penalty of two hundred fifty currency points for each day of default.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Responsibility of board of directors”.

“(1) The board of directors of a licensee shall be responsible for- (a) approving the policy on consumer protection prepared by a licensee under subregulation 3; (b) overseeing the implementation of the consumer protection policy; (c) ensuring that a licensee complies with provisions of the Act and these Regulations; and (d) verifying that management has put in place adequate processes for providing information necessary for monitoring and evaluation of the consumer protection initiatives through internal audit…”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

2

(1) The board of directors of a licensee shall be responsible for- (a) approving the policy on consumer protection prepared by a licensee under subregulation 3; (b) overseeing the implementation of the consumer protection policy; (c) ensuring that a licensee complies with provisions of the Act and these Regulations; and (d) verifying that management has put in place adequate processes for providing information necessary for monitoring and evaluation of the consumer protection initiatives through internal audit reports and risk management reports.
(2) The board of directors shall, before approving the policy under subregulation (1) (a), ascertain that the policy is adequate to protect the interests of the consumer and that the policy is up-to-date. (3) Where the board of directors fails to perform the responsibilities of the board under this regulation, the licensee shall be liable to pay a civil penalty of two hundred fifty currency points for each day of default.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

5. Responsibility of management

(1)

The management of a licensee shall be responsible for- (a) establishing functional consumer protection coordination and collaboration mechanisms and preparation of reports; (b) monitoring enterprise wide operations and functional compliance with consumer protection requirements;

(c)

providing consumer protection compliance guidance in accordance with the policy and these Regulations; (d) overseeing any agent or third party through which the licensee provides payment services; (e) conducting consumer protection risk assessment on product and services and put in place risk mitigation measures;

(0 deploying professional and experienced personnel to handle consumers' complaints;

(g)

conducting research and analysis on the patterns and trends associated with complaints from consumers; and (h) providing relevant training and supervision for the employees, agents and third parties on the requirements of these Regulations.

(2)

Where management of the licensee fails to perform its responsibility under this regulation, the licensee shall be liable to pay a civil penalty of two hundred fifty currency points for each day of default.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Responsibility of management”.

“(1) The management of a licensee shall be responsible for- (a) establishing functional consumer protection coordination and collaboration mechanisms and preparation of reports; (b) monitoring enterprise wide operations and functional compliance with consumer protection requirements;”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

4

(1) The management of a licensee shall be responsible for- (a) establishing functional consumer protection coordination and collaboration mechanisms and preparation of reports; (b) monitoring enterprise wide operations and functional compliance with consumer protection requirements;
(c) providing consumer protection compliance guidance in accordance with the policy and these Regulations; (d) overseeing any agent or third party through which the licensee provides payment services; (e) conducting consumer protection risk assessment on product and services and put in place risk mitigation measures;
(g) conducting research and analysis on the patterns and trends associated with complaints from consumers; and (h) providing relevant training and supervision for the employees, agents and third parties on the requirements of these Regulations.
(2) Where management of the licensee fails to perform its responsibility under this regulation, the licensee shall be liable to pay a civil penalty of two hundred fifty currency points for each day of default.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

6. Submission of reports

A licensee shall, within fifteen days from the last day of every month, submit to the Central Bank information regarding complaints received by the licensee from consumers, segregated by category and agent location, including remedial measures taken.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Submission of reports”.

“A licensee shall, within fifteen days from the last day of every month, submit to the Central Bank information regarding complaints received by the licensee from consumers, segregated by category and agent location, including remedial measures taken.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

1

A licensee shall, within fifteen days from the last day of every month, submit to the Central Bank information regarding complaints received by the licensee from consumers, segregated by category and agent location, including remedial measures taken.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

1. Fairness

(1)

A licensee shall be fair in dealing with a consumer in the course of performing the licensed activities of the licensee.

(2)

A licensee shall not- (a) discriminate against any consumer on grounds of sex, race, colour, ethnicity, tribe, birth, creed or religion, social or economic standing, political opinion or disability;

(b)

engage in unfair, deceptive or aggressive practices which may include threats, intimidation, being violent towards, abusing, or humiliating a consumer;

(c)

offer, accept or ask for bribes, gift or an inducement;

(d)

take undue advantage of a consumer whether or not he or she is able to fully understand the character or nature of a proposed transaction;

(e)

include an unconscionable term in an agreement;

(f)

exert undue influence or duress on a consumer to enter into a transaction;

(g)

disguise, diminish, obscure or conceal a material fact or warning through, among others, use of print whose font size is less than 10 point, describing the material fact or warning in complex language, use of voluminous documents or omitting a material fact or warning; or

(h)

mislead the consumer.

(3)

For the purposes of subregulation (2) (c), "gift" does not include promotional items or material offered to a consumer.

(4)

A licensee who fails to comply with subregulation (2) shall be liable to pay a civil penalty not exceeding two hundred and fifty currency points.

8. Unfair sales practices

(1)

A licensee shall not engage in unfair sales practice in the course of conducting the licensed activities.

(2)

A licensee shall-

(a)

put in place a formal sales policy and procedures for their products or services;

(b)

not mis-sell, misrepresent or apply aggressive practices or discriminate during the sales process;

(c)

explain and interpret any exclusion clause, disclaimer or exemptions contained in written sales material;

(d)

not require a consumer who buys one product to buy another product from a seller or a specified service provider unless the consumer has been given a choice of at least two service providers; or

(e)

disclose conflict of interest to a consumer, particularly when the consumer receives advice from a licensee before entering into a consumer agreement.

(3)

For the purpose of subregulation (2) (b), "mis-sell" means a deliberate sale of a payment product or service to the consumer that he or she does not need or use.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Definition

This section supplies the definitions or statutory meaning governing “Unfair sales practices”.

“(1) A licensee shall not engage in unfair sales practice in the course of conducting the licensed activities.”

Primary legislation Source quotation matched

Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Unfair sales practices”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

8

(1) A licensee shall not engage in unfair sales practice in the course of conducting the licensed activities.
(2) A licensee shall-
(a) put in place a formal sales policy and procedures for their products or services;
(b) not mis-sell, misrepresent or apply aggressive practices or discriminate during the sales process;
(c) explain and interpret any exclusion clause, disclaimer or exemptions contained in written sales material;
(d) not require a consumer who buys one product to buy another product from a seller or a specified service provider unless the consumer has been given a choice of at least two service providers; or
(e) disclose conflict of interest to a consumer, particularly when the consumer receives advice from a licensee before entering into a consumer agreement.
(3) For the purpose of subregulation (2) (b), "mis-sell" means a deliberate sale of a payment product or service to the consumer that he or she does not need or use.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

9. Suitability of advice

(1)

A licensee shall upon request by a consumer give advice on a payment service or product offered under the Act.

(2)

The advice referred to in subregulation (1) shall be- (a) accurate and professional; and ! (b) suitable to the circumstances and needs of the consumer.

(3)

A licensee who offers advice to a consumer under this regulation shall keep a record of the request and advice given to the consumer.

Consumer education and awareness

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Suitability of advice”.

“(1) A licensee shall upon request by a consumer give advice on a payment service or product offered under the Act.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A licensee shall upon request by a consumer give advice on a payment service or product offered under the Act.
(2) The advice referred to in subregulation (1) shall be- (a) accurate and professional; and ! (b) suitable to the circumstances and needs of the consumer.
(3) A licensee who offers advice to a consumer under this regulation shall keep a record of the request and advice given to the consumer.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

10. Consumer awareness

(1)

A licensee shall develop and conduct consumer awareness programs tailored to the category of the consumer.

(2)

Consumer awareness programs may be conducted through public awareness campaigns and information resources that empower consumers on important aspects including choice of payment channels, payment services and products or self-protection against fraud.

(3)

The information for consumer awareness shall be developed in the English language and translated into other languages z based on geographical location and needs of the consumer.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Consumer awareness”.

“(1) A licensee shall develop and conduct consumer awareness programs tailored to the category of the consumer.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A licensee shall develop and conduct consumer awareness programs tailored to the category of the consumer.
(2) Consumer awareness programs may be conducted through public awareness campaigns and information resources that empower consumers on important aspects including choice of payment channels, payment services and products or self-protection against fraud.
(3) The information for consumer awareness shall be developed in the English language and translated into other languages z based on geographical location and needs of the consumer.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

11. Monitoring and evaluation

(1)

A licensee shall establish mechanisms to monitor and evaluate consumer awareness programs for the purposes of tracking and assessing the effectiveness of the consumer awareness programs.

(2)

A licensee shall furnish a bi-annual report to the Central Bank on the consumer awareness programs conducted by the licensee.

(3)

The report referred to in subregulation (2) shall be submitted to the Central Bank by the 15th day of July and 15th day of January of every calendar year.

Disclosure and transparency

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Monitoring and evaluation”.

“(1) A licensee shall establish mechanisms to monitor and evaluate consumer awareness programs for the purposes of tracking and assessing the effectiveness of the consumer awareness programs.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A licensee shall establish mechanisms to monitor and evaluate consumer awareness programs for the purposes of tracking and assessing the effectiveness of the consumer awareness programs.
(2) A licensee shall furnish a bi-annual report to the Central Bank on the consumer awareness programs conducted by the licensee.
(3) The report referred to in subregulation (2) shall be submitted to the Central Bank by the 15th day of July and 15th day of January of every calendar year.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

12. Disclosure of information on products and services

(1)

A licensee shall disclose complete and accurate information to its consumer in simple, plain and comprehensible language.

(2)

The disclosure referred to in subregulation (1) may be X through- (a) advertisements; (b) direct contact to the consumer; (c) sales promotions; or (d) any other media of communication.

(3)

A disclosure that is in writing shall- (a) be legible in a font size of not less than 10 point with a spacing and placement of content that makes communication easy to read for the consumer; and (b) contain and highlight key features of the given product or service.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Disclosure of information on products and services”.

“(1) A licensee shall disclose complete and accurate information to its consumer in simple, plain and comprehensible language.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A licensee shall disclose complete and accurate information to its consumer in simple, plain and comprehensible language.
(2) The disclosure referred to in subregulation (1) may be X through- (a) advertisements; (b) direct contact to the consumer; (c) sales promotions; or (d) any other media of communication.
(3) A disclosure that is in writing shall- (a) be legible in a font size of not less than 10 point with a spacing and placement of content that makes communication easy to read for the consumer; and (b) contain and highlight key features of the given product or service.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

13. Provision of information to a consumer

(1)

A licensee shall provide information on a product or service to a consumer before a consumer signs up for any product or service. (2) The information required to be provided to a consumer in subregulation (1) shall include-

(a)

updated information of a product or service whether in writing, electronically or orally in a fair, clear and transparent manner;

(b)

an explanation in plain language of the key features of the range of products or services that the consumer is interested in including benefits, risks, any charges and fees which would be incurred; (c) inquiry or disputes resolution procedure; and (d) information needed to verify whether or not the consumer is eligible for a product or service in which the consumer I is interested.

(3)

Where a consumer has chosen a product or service, a licensee shall, before the consumer acquires the product or service, provide the consumer with a key facts document for the product or service.

(4)

The key facts document referred to in subregulation (3) shall include- (a) charges; (b) fees; (c) interest where applicable; and (d) statement on whether charges or fees are instant or deferred payment.

(5)

The key facts document referred to in subregulation (4) shall be in writing.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Provision of information to a consumer”.

“(1) A licensee shall provide information on a product or service to a consumer before a consumer signs up for any product or service. (2) The information required to be provided to a consumer in subregulation (1) shall include-”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

6

(1) A licensee shall provide information on a product or service to a consumer before a consumer signs up for any product or service. (2) The information required to be provided to a consumer in subregulation (1) shall include-
(a) updated information of a product or service whether in writing, electronically or orally in a fair, clear and transparent manner;
(b) an explanation in plain language of the key features of the range of products or services that the consumer is interested in including benefits, risks, any charges and fees which would be incurred; (c) inquiry or disputes resolution procedure; and (d) information needed to verify whether or not the consumer is eligible for a product or service in which the consumer I is interested.
(3) Where a consumer has chosen a product or service, a licensee shall, before the consumer acquires the product or service, provide the consumer with a key facts document for the product or service.
(4) The key facts document referred to in subregulation (3) shall include- (a) charges; (b) fees; (c) interest where applicable; and (d) statement on whether charges or fees are instant or deferred payment.
(5) The key facts document referred to in subregulation (4) shall be in writing.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

14. Fees or charges

(1)

A licensee shall disclose the charges or fees to be paid by the consumer.

(2)

The disclosure of the charges or fees referred to in subregulation (1) may be contained in-

(a)

a schedule of fees or charges availed to a consumer;

(b)

materials displayed at the licensees' office, social media pages or website; or

(c)

in any other document as the licensee may determine.

(3)

A licensee shall not impose fees or charges that were not disclosed to the consumer at the time of signing up for the product or service unless the licensee has given thirty days' notice to the consumer in case of an increment in the fees or charges.

(4)

A licensee who contravenes subregulation (3) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank in addition to refunding the consumer any increment imposed.

Responsible business conduct

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Fees or charges”.

“(1) A licensee shall disclose the charges or fees to be paid by the consumer.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

7

(1) A licensee shall disclose the charges or fees to be paid by the consumer.
(2) The disclosure of the charges or fees referred to in subregulation (1) may be contained in-
(a) a schedule of fees or charges availed to a consumer;
(b) materials displayed at the licensees' office, social media pages or website; or
(c) in any other document as the licensee may determine.
(3) A licensee shall not impose fees or charges that were not disclosed to the consumer at the time of signing up for the product or service unless the licensee has given thirty days' notice to the consumer in case of an increment in the fees or charges.
(4) A licensee who contravenes subregulation (3) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank in addition to refunding the consumer any increment imposed.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

15. Request for information

Where a consumer requests for information, a licensee shall respond to that request in a clear and timely manner

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Request for information”.

“Where a consumer requests for information, a licensee shall respond to that request in a clear and timely manner”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

1

Where a consumer requests for information, a licensee shall respond to that request in a clear and timely manner

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

16. Regulation of sales promotion materials

(1)

A licensee shall not use a sales promotion material that is- (a) misleading or contains false or incomplete information; (b) against public morality; and (c) not clearly written in plain language and in a font size of less than 10 point.

(2)

A licensee shall be responsible for the statements made in a sales promotion material.

(3)

A licensee shall not use marketing strategy which may • harm a consumer by taking advantage of the consumers' condition as result of age, health conditions, level of education or any other condition.

(4)

A sales promotion material developed by the licensee shall indicate that the licensee is regulated by the Central Bank.

(5)

A licensee who contravenes subregulation (1) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Regulation of sales promotion materials”.

“(1) A licensee shall not use a sales promotion material that is- (a) misleading or contains false or incomplete information; (b) against public morality; and (c) not clearly written in plain language and in a font size of less than 10 point.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

5

(1) A licensee shall not use a sales promotion material that is- (a) misleading or contains false or incomplete information; (b) against public morality; and (c) not clearly written in plain language and in a font size of less than 10 point.
(2) A licensee shall be responsible for the statements made in a sales promotion material.
(3) A licensee shall not use marketing strategy which may • harm a consumer by taking advantage of the consumers' condition as result of age, health conditions, level of education or any other condition.
(4) A sales promotion material developed by the licensee shall indicate that the licensee is regulated by the Central Bank.
(5) A licensee who contravenes subregulation (1) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

17. Reliability of service channels

(1)

A licensee shall ensure that the service channels are available to serve a consumer in accordance with the terms and conditions in the agreement with the licensee.

(2)

Subject to subregulation (1) a licensee may temporarily render service channels inaccessible where it is- (a) due to an emergency which is beyond the control of the licensee; or (b) undergoing servicing and maintenance.

(3)

For the purposes of subregulation (2) a licensee shall advise consumers of the unavailability of the service channels and the timelines when the service channels may be restored.

(4)

Where the licensee intends to undergo servicing or maintenance of service channels under subregulation (2) (b), a licensee shall give a notice of at least forty-eight hours before temporarily rendering the service channels inaccessible.

(5)

A licensee who contravenes subregulation (1) and (4) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank.

Protection of consumers asset

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Procedural rule

This section establishes the governing procedure for “Reliability of service channels”.

“(1) A licensee shall ensure that the service channels are available to serve a consumer in accordance with the terms and conditions in the agreement with the licensee.”

Primary legislation Source quotation matched

Practical effect

A litigant should address this rule at the procedural stage named in the section and preserve evidence of compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

5

(1) A licensee shall ensure that the service channels are available to serve a consumer in accordance with the terms and conditions in the agreement with the licensee.
(2) Subject to subregulation (1) a licensee may temporarily render service channels inaccessible where it is- (a) due to an emergency which is beyond the control of the licensee; or (b) undergoing servicing and maintenance.
(3) For the purposes of subregulation (2) a licensee shall advise consumers of the unavailability of the service channels and the timelines when the service channels may be restored.
(4) Where the licensee intends to undergo servicing or maintenance of service channels under subregulation (2) (b), a licensee shall give a notice of at least forty-eight hours before temporarily rendering the service channels inaccessible.
(5) A licensee who contravenes subregulation (1) and (4) shall be liable to pay a fine of two hundred and fifty currency points for each day of default to the Central Bank.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

18. Protection of consumer assets

(1)

A licensee shall-

(a)

be liable for the loss or misuse of the assets of the consumer and make good the loss suffered unless the loss is as a result of the consumer's negligence;

(b)

take disciplinary action against employees responsible for the loss or misuse of assets of a consumer; and

(c)

require consumers to update their records as and when the need arises.

(2)

For the purposes of this regulation, a licensee shall- (a) display measures to safeguard consumer assets at its offices, websites and any other communication channel; (b) provide the consumer with a twenty-four-hour communication channel to enable consumers to report a loss or misuse of the consumer asset; and (c) report to the Central Bank a loss or misuse of the consumer assets when requested by the Central Bank.

(3)

For the purposes of this regulation "asset" includes electronic value, data or any other item acquired by the consumer from the licensee.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Definition

This section supplies the definitions or statutory meaning governing “Protection of consumer assets”.

“(1) A licensee shall-”

Primary legislation Source quotation matched

Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Protection of consumer assets”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

6

(1) A licensee shall-
(a) be liable for the loss or misuse of the assets of the consumer and make good the loss suffered unless the loss is as a result of the consumer's negligence;
(b) take disciplinary action against employees responsible for the loss or misuse of assets of a consumer; and
(c) require consumers to update their records as and when the need arises.
(2) For the purposes of this regulation, a licensee shall- (a) display measures to safeguard consumer assets at its offices, websites and any other communication channel; (b) provide the consumer with a twenty-four-hour communication channel to enable consumers to report a loss or misuse of the consumer asset; and (c) report to the Central Bank a loss or misuse of the consumer assets when requested by the Central Bank.
(3) For the purposes of this regulation "asset" includes electronic value, data or any other item acquired by the consumer from the licensee.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

19. Protection of consumer information

(1)

A licensee shall collect, process, store and protect the information or data of a consumer in accordance with the Data Protection and Privacy Act, 2019 in case of a natural person.

(2)

A licensee shall put in place security and control measures to protect the information or data of a consumer who is a body corporate.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Protection of consumer information”.

“(1) A licensee shall collect, process, store and protect the information or data of a consumer in accordance with the Data Protection and Privacy Act, 2019 in case of a natural person.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

2

(1) A licensee shall collect, process, store and protect the information or data of a consumer in accordance with the Data Protection and Privacy Act, 2019 in case of a natural person.
(2) A licensee shall put in place security and control measures to protect the information or data of a consumer who is a body corporate.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

Data Protection and Privacy Act

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

20. Continuous training and competence

(1)

A licensee shall-

(a)

develop training programs;

(b)

assess the training needs of its staff and agents at appropriate intervals; (c) provide continuous training relevant to their duties; (d) employ competent staff to carry out their duties; (e) review the competence of its staff and take steps to ensure that the staff remain competent in respect to their duties; and (0 arrange for its staff to be appropriately supervised.

(2)

For the purposes of subregulation (1), a licensee shall take into consideration- (a) technical knowledge and its application; (b) skills and expertise; and (c) changes in the market, products, legislation and regulation.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Continuous training and competence”.

“(1) A licensee shall-”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

4

(1) A licensee shall-
(a) develop training programs;
(b) assess the training needs of its staff and agents at appropriate intervals; (c) provide continuous training relevant to their duties; (d) employ competent staff to carry out their duties; (e) review the competence of its staff and take steps to ensure that the staff remain competent in respect to their duties; and (0 arrange for its staff to be appropriately supervised.
(2) For the purposes of subregulation (1), a licensee shall take into consideration- (a) technical knowledge and its application; (b) skills and expertise; and (c) changes in the market, products, legislation and regulation.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

21. Right to seek for clarification

(1)

A consumer that has an issue or an inquiry arising from the conduct of business of the licensee may request the licensee for clarification on the subject matter.

(2)

The licensee shall immediately acknowledge in writing receipt of an inquiry or request under subregulation (1).

(3)

The licensee shall handle the request and give clarification or decision in writing within the time specified in the Schedule to these Regulations.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Right to seek for clarification”.

“(1) A consumer that has an issue or an inquiry arising from the conduct of business of the licensee may request the licensee for clarification on the subject matter.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A consumer that has an issue or an inquiry arising from the conduct of business of the licensee may request the licensee for clarification on the subject matter.
(2) The licensee shall immediately acknowledge in writing receipt of an inquiry or request under subregulation (1).
(3) The licensee shall handle the request and give clarification or decision in writing within the time specified in the Schedule to these Regulations.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

22. Right to lodge complaint

(1)

A consumer who is aggrieved or dissatisfied with the clarification or decision of the licensee made under regulation 21 may lodge a complaint with the Central Bank.

(2)

The complaint referred to in subregulation (1) shall be- (a) made within thirty days from the date of the decision; (b) in writing; and (c) accompanied by the relevant evidence or documents.

(3)

Notwithstanding subregulation (2)(a) the Central Bank may on reasonable grounds extend the time specified in subregulation (2)(a). (4) The Central Bank shall consider and determine the complaint lodged under this regulation within twenty-one working days from the date of lodging the complaint.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Right to lodge complaint”.

“(1) A consumer who is aggrieved or dissatisfied with the clarification or decision of the licensee made under regulation 21 may lodge a complaint with the Central Bank.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A consumer who is aggrieved or dissatisfied with the clarification or decision of the licensee made under regulation 21 may lodge a complaint with the Central Bank.
(2) The complaint referred to in subregulation (1) shall be- (a) made within thirty days from the date of the decision; (b) in writing; and (c) accompanied by the relevant evidence or documents.
(3) Notwithstanding subregulation (2)(a) the Central Bank may on reasonable grounds extend the time specified in subregulation (2)(a). (4) The Central Bank shall consider and determine the complaint lodged under this regulation within twenty-one working days from the date of lodging the complaint.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

23. Mechanism for handling consumer inquiry or request

(1)

A licensee shall establish, operate and maintain a mechanism for receiving, processing and resolving consumer inquiries within the time specified in the Schedule to these Regulations.

(2)

The mechanism for receiving an inquiry or request under subregulation (1) shall have multiple channels with clear procedures including telephone numbers, help desk, email address or web chats. (3) The multiple channels referred to in subregulation (2) shall be available on a twenty-four-hour basis.

(4)

The mechanism referred to in subregulation (1) shall be free, fair, accessible, timely, transparent, independent and capable of- (a) acknowledging receipt of an inquiry and keeping a consumer updated throughout the process; and (b) keeping a record of all inquiries or requests.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Mechanism for handling consumer inquiry or request”.

“(1) A licensee shall establish, operate and maintain a mechanism for receiving, processing and resolving consumer inquiries within the time specified in the Schedule to these Regulations.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

3

(1) A licensee shall establish, operate and maintain a mechanism for receiving, processing and resolving consumer inquiries within the time specified in the Schedule to these Regulations.
(2) The mechanism for receiving an inquiry or request under subregulation (1) shall have multiple channels with clear procedures including telephone numbers, help desk, email address or web chats. (3) The multiple channels referred to in subregulation (2) shall be available on a twenty-four-hour basis.
(4) The mechanism referred to in subregulation (1) shall be free, fair, accessible, timely, transparent, independent and capable of- (a) acknowledging receipt of an inquiry and keeping a consumer updated throughout the process; and (b) keeping a record of all inquiries or requests.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

24. Redress mechanism

(1)

A licensee shall develop a redress mechanism for an aggrieved consumer who qualifies for redress upon investigation and conclusion of the inquiry.

(2)

A redress mechanism referred to in subregulation (1) shall include- (a) compensation procedures; (b) rectification procedures; or (c) restitution in case of loss of an asset.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Redress mechanism”.

“(1) A licensee shall develop a redress mechanism for an aggrieved consumer who qualifies for redress upon investigation and conclusion of the inquiry.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

2

(1) A licensee shall develop a redress mechanism for an aggrieved consumer who qualifies for redress upon investigation and conclusion of the inquiry.
(2) A redress mechanism referred to in subregulation (1) shall include- (a) compensation procedures; (b) rectification procedures; or (c) restitution in case of loss of an asset.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

25. Conflict of interest

(1)

A licensee shall, in handling consumer inquires, avoid conflict of interest.

(2)

An officer of a licensee shall not be involved in processing of an inquiry if he or she is a party to or has interest in the inquiry.

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Mandatory duty

This section imposes mandatory requirements concerning “Conflict of interest”.

“(1) A licensee shall, in handling consumer inquires, avoid conflict of interest.”

Primary legislation Source quotation matched

Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

2

(1) A licensee shall, in handling consumer inquires, avoid conflict of interest.
(2) An officer of a licensee shall not be involved in processing of an inquiry if he or she is a party to or has interest in the inquiry.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

26. Decision of the Central Bank The Central Bank may upon making determination of

a complaint under regulation 22 order a licensee to (a) compensate and refund the affected consumer; (b) make correction of erroneous data, information or statement; (c) cease or desist from the conduct that is subject of a complaint; or (d) do or desist from doing any other thing or action as the Central Bank may deem appropriate.

SCHEDULE

THE REPUBLIC OF UGANDA

Regulation 21 and 23

TIMEFRAME FOR RESOLVING CONSUMER'S INQUIRIES OR REQUESTS

Timeframe within which to resolve an inquiry or Nature of the inquiry or request in request from the time of relation to Product or Service lodging the inquiry or request.

Payments product or service on -

6 hours (a) electronic money cash transactions;

(b)

electronic money funds transfer; 6 hours

(c)

card or merchants payments; 6 hours instant payments other than electronic (d) 6 hours money financial services; payments or services involving third (e) 24 hours parties regulated by other authorities; cross border payments or services; (D 48 hours and any other complaint or inquiry arising (g) 48 hours from a licensed activity.

HON. MATIA KASAIJA (MP) Minister of Finance, Planning and Economic Development

Section analysis Source-linked statutory analysis Source linked

Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.

What this section does

Statutory power

This section confers or regulates the statutory power described as “Decision of the Central Bank The Central Bank may upon making determination of”.

“a complaint under regulation 22 order a licensee to (a) compensate and refund the affected consumer; (b) make correction of erroneous data, information or statement; (c) cease or desist from the conduct that is subject of a complaint; or (d) do or desist from doing any other thing or action as the Central Bank may deem appropriate.”

Primary legislation Source quotation matched

Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved

Elements or requirements

Operative requirements extracted from the consolidated text.

2

(b) electronic money funds transfer; 6 hours
(c) card or merchants payments; 6 hours instant payments other than electronic (d) 6 hours money financial services; payments or services involving third (e) 24 hours parties regulated by other authorities; cross border payments or services; (D 48 hours and any other complaint or inquiry arising (g) 48 hours from a licensed activity.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

National Payment Systems (Consumer Protection) Regulations

About this Act

Full text of the Act