GAZETTE NOTICE NO. 971

pursuant to section 27(3) of the Sacco Societies Act ) 13th February, 2015 NOTICE is given that in exercise of the powers conferred 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 licence for the Sacco Societies appearing in the Schedule hereunder with effect from 1st January, 2015; 2. Prohibited, the said Sacco Societies appearing in the Schedule hereunder, by themselves and/or through any of their 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; and 3. Directed, the immediate winding-up and/or otherwise closure of the existing or current deposit-taking business (if any), and in event within the periods prescribed. SCHEDULE Full Name of Sacco Society Postal Address Registration Number | Physical Location | County Situated Isiolo Teachers Savings and Credit Co-operative (Sacco) Society Limited P.O. Box 105-60300, Isiolo CS. No. 2511 Isiolo Town Isiolo Ogembo Tea Sacco Society Limited P.O Box 88—40211, Kenyanya| CS. No. 6180 Kenyenya Town __| Kisii 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 withdrawable savings or fixed accounts, salary processing among others with the said Sacco Societies are hereby warned that the said Sacco Societies are not licensed by the Authority, and therefore not authorized to undertake any such deposit-taking Sacco (FOSA) business transactions, commercial or otherwise. Any person or institution (private or public) who engages in deposit-taking business or transaction with the said Sacco Societies shall be doing so at their own peril and associated risks, and all such business or transactions shall be illegal, null and void. 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. Any inquiries and/or queries in this regard may be directed in writing to the Authority through its email at supervision@sasra.go.ke or info@sasra.go.ke, or otherwise to the undersigned. Dated the 27th January, 2015. MR/6901179 GAZETTE NOTICE NO