GAZETTE NOTICE NO. 449

pursuant to section 27(3) of the Sacco Societies Act (Cap 490B) NOTICE is given that in Exercise of the powers conferred upon it by section 27 and 51 of the Sacco Societies Act (Cap 490B) as read with Regulation 6 of the Sacco Societies (Deposit-taking Sacco Business) Regulations, 2010 and all other enabling provisions of the law, the Sacco Societies Regulatory Authority (hereinafter the Authority) has: 1. Revoked/not renewed, the deposit-taking Sacco business license issued to the Ntiminyakiru Sacco Society Limited, of P.O. Box 3213-60200, Meru, situated at Meru Town of Meru County, within the Republic of Kenya, CS. Registration No. 9233 with effect from 31st December, 2014; and 2. Prohibited, the said Ntiminyakiru Sacco Society Limited, by itself and/or through any of its Directors, employees, agents, officers and/or any other person whatsoever from undertaking deposit- taking Sacco business (popularly known as Front Office Service Activity or FOSA) in Kenya, with effect from Ist January 2015. Consequently, members of the public, and/or other public or private entities who intend to engage in and/or undertake any form of deposit-taking Sacco (FOSA) business transactions including but not limited to operating savings accounts, salary processing among others with the said Ntiminyakiru Sacco Society Limited are warned that the said Sacco Society is not licensed by the Authority, and that any such deposit-taking Sacco (FOSA) business transactions, commercial or otherwise, shall be illegal, and done at their own peril and associated risks. Further attention of the public is drawn to the provisions of Section 23 of the Sacco Societies Act, which provides inter alia that a person who undertakes deposit-taking Sacco business in Kenya without a valid license from the Authority commits an offence. Additional criminal proceedings may thus be instituted against any person who violates the said provisions. CARILUS ADEMBA, MR/6742301 Chief Executive Officer.