SPECIAL ISSUE1525
Kenya Gazette Supplement No.19023rdNovember, 2022
(Legislative Supplement No. 91)
LEGAL NOTICE NO.213
THE PUBLIC FINANCE MANAGEMENT ACT
(No. 18of 2012)
IN EXERCISE of the powers conferred by section 24(4) of the
Public Finance Management Act, 2012, the Cabinet Secretary for the
National Treasury and Economic Planning makes the following
Regulations—
THE PUBLIC FINANCE MANAGEMENT (FINANCIAL
INCLUSION FUND) REGULATIONS, 2022
1.These Regulations may be cited as the Public Finance
Management (Financial Inclusion Fund) Regulations, 2022.
Citation.
2.In these Regulations, unless the context otherwise requires—Interpretation.
“Act” means the Public Finance Management Act, 2012;No. 18 of 2012.
“Administrator of the Fund” means a person designated as such
under regulation 17(1);
“association”has the meaning assigned to it under section 2 of
the Micro and Small Enterprises Act, 2012;
No. 55 of 2012.
“Board” means the Advisory Board established under regulation
10 (1) of these Regulations;
“borrower” means a person in receipt of a financial service or
productadvanced to that person by the Fund;
“bottom of the pyramid” means asocio-economic groupof
personswith low disposable income;
“Cabinet Secretary” has the meaning assignedto it under section
2 of the Act;
“chama” means a registered group of persons pursuing common
objectivesbypoolingresources together to empower one another
economically;
“cooperative society” has the meaning assigned to it under
section 2 of the Cooperative Societies Act, 1997;
No 12 of 1997
“credit scoring” means a statistical analysis performed bythe
Fund oranagent or a financial intermediaryto determine the
creditworthiness of an applicant to qualify for subsequent and enhanced
financialservice or product under this Fund;
“eligible person” meansa person with low disposable income or
a registered micro, small and medium enterprise, a chama, group, table
banking group,a cooperative society or an association intending to take