Investor Presentaiton
[Rev. 2016]
Consumer Protection
No. 46 of 2012
"file", when used as a noun, means all of the information pertaining to a
consumer that is recorded and retained by a person, regardless of the manner
or form in which the information is stored;
"fixed credit" means credit or a loan of money under a credit agreement
that is not for open credit;
"floating rate” means a rate that bears a specified mathematical
relationship to a public index that meets the prescribed requirements;
"future performance agreement” means a consumer agreement in
respect of which delivery, performance or payment in full is not made when the
parties enter the agreement;
"initiation fee" means a fee in addition to an annual membership fee;
"internet agreement” means a consumer agreement formed by text-based
internet communications;
"internet gaming site" means an internet site that accepts or offers to
accept wagers or bets over the internet-
(a)
(b)
as part of the playing of or participation in any game of chance
or mixed chance and skill that is to take place inside or outside
Kenya; or
on any contingency or on any event that may or is to take
place inside or outside of Kenya, including, without restricting the
generality of the foregoing, a casino game, card game, horse race,
fight, match, sporting event or contest;
"loan broker" means—
(a)
a supplier of loan brokering; or
(b)
a person who holds himself out to be a person described in clause
(a);
"lease" means a consumer agreement for the lease of goods, other than
a consumer agreement for the lease of goods connection with a residential
tenancy agreement, and “lessor" and "lessee" have a corresponding
meaning;
"lease term" means the period during which the lessee is entitled to retain
possession of the leased goods;
"lender" means a supplier who is or may become a party to a credit
agreement and who extends or may extend credit or lends or may lend money
to the borrower and includes a credit card issuer;
"loan brokering" means services or goods that are intended to assist a
consumer in obtaining credit or a loan of money, including obtaining credit or
a loan of money from the loan broker who is providing the services or goods
to the consumer;
"membership fee" means the amount payable by a consumer for personal
development services;
"open credit" means credit or a loan of money under a credit agreement,
as defined in Part VII, that-
(a)
anticipates multiple advances to be made as requested by the
borrower in accordance with the agreement; and
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