The Unclaimed Financial Assets (Amendments) Bill, 2024
Statement of the objects and reasons for the Bill owner the power to designate the payment of a claim to another person. Statement on the delegation of legislative powers and limitation fundamental rights and freedoms fundamental rights or freedom. Statement on whether the Bill concerns county government The Bill does not concern county governments in terms of Artic 110 of the Constitution.
From the Bill’s Memorandum of Objects and Reasons (OCR extract).
Legislative progress
Introduced / Published: 8 Mar 2024
- ○ First Reading
- ○ Second Reading
- ○ Committee of the Whole House
- ○ Third Reading
- ○ Presidential Assent
Stage dates are back-filled from publication records and Hansard, and refined by editors. Some dates may be approximate or not yet recorded.
What Kenyans are saying
No published submissions on this Bill yet — be the first to have your say.
Notes
Source: https://www.parliament.go.ke/sites/default/files/2024-03/THE%20UNCLAIMED%20FINANCIAL%20ASSETS%20%28AMENDMENTS%29%20BILL%2C%202024.pdf
The Bill (PDF)
↓ Download the Bill (PDF, 1.3 MB) Open in a new tab
Read the original document (1.3 MB)
Your browser can’t display the PDF inline. Download the Bill (PDF) instead.
Original document, hosted by Mzalendo. Source: parliament.go.ke.
Bill text
Read the Bill (OCR extract)
SPECIALISSUE
Kenya Gazette Supplement No.58(National Assembly Bills No.15)
REPUBLIC OFKENYA
KENYA GAZETTE SUPPLEMENT
NATIONALASSEMBLY BILLS,2024
NAIROBI,8th March,2024
CONTENT
Bill for Introduction into the National Assembly- The Unclaimed Financial Assets (Amendment) Bill,2024
ASSEMBLY RECEIVED NATIONAL DIFEC
12 MAR 2024
P.O.B0x 41842-00100,
THE UNCLAIMED FINANCIAL ASSETS
(AMENDMENT)BILL,2024
A Bill for
amend the Unclaimed Financial Assets Act and for connected purposes
AN ACT of Parliament to
- ENACTED by the Parliament of Kenya as follows-
Short title.
1.This Act may be cited as the Unclaimed Financial
Assets (Amendment) Act, 2024.
Amendment section8of No.40of 2011.
2.Section 8 of the Unclaimed Financial Assets Act, therefore the following new subsection-
"(2) A holder of unclaimed assets described in subsection (l) shall file an initial one-time report of unclaimed demutualization proceeds not later than six months after this Act comes into
force.
Amendment section28of No.40of 2011.
3. Section 28 of the principal Act is amended in immediately after the word Amendment section45of
4. Section 45 of the principal Act is amended-
No.40of
2011.
| (a) bydeleting | person is the owner of all or part of the assets that became unclaimed assets and paid into the Fund, | owner or such other person as the owner may | designate an amount equal to the value of those | assets or part of those assets as the case may be." | |----------------------------------------------|---------------------------------------------------------------------------------------------------------|-----------------------------------------------|---------------------------------------------------|-------------------------------------------------------| | therefor the following new subsection- | | | | | | "(1) Where the Authority is satisfied that a | | | | |
The Unclaimed Financial Assets (Amendment) Bill,2024
MEMORANDUM OF OBJECTS AND REASONS
Statement of the objects and reasons for the Bill owner the power to designate the payment of a claim to another person.
Statement on the delegation of legislative powers and limitation fundamental rights and freedoms fundamental rights or freedom.
Statement on whether the Bill concerns county government The Bill does not concern county governments in terms of Artic
110 of the Constitution.
Statement as to whether the Bill is a money Bill within the meaning Article 114 of the Constitution The enactment of this Bill shall not occasion additional expenditu of public funds.
Dated the 8th February, 2024.
KIMANIICHUNG'WAH, Leader of Majority Part
Machine-extracted text (Docling (OCR + layout), extracted 2 Jul 2026) from a scanned document — may contain recognition errors.
Source: parliament.go.ke (parliament.go.ke active listing). Last updated 3 Jul 2026.