Section 65 of The Consumer Protection Act CAP 501: Initial disclosure statement
(1) Every lender shall deliver an initial disclosure statement for a credit agreement to the borrower at or before the time that the borrower enters into the agreement, unless the lender has adopted the loan broker’s initial disclosure statement as his, her or its own.
(2) The initial disclosure statement for a credit agreement for fixed credit shall disclose the prescribed information.
(3) The initial disclosure statement for a credit agreement for open credit shall disclose the prescribed information.
(4) If a loan broker assists in arranging a credit agreement, the initial disclosure statement shall disclose the prescribed information.
Enhance Your Research with Bookmarks and Annotations
Here's how you can use these features:
- To bookmark this page, click the "Bookmark this Page" button below the document title.
- To add an annotation, highlight text in the document and select "Add Annotation" from the toolbar that appears.
- These features are great for organizing your research and keeping track of key information.
- You can view and manage your bookmarks and annotations on your Bookmarks and Annotations page.
- Section 66 - Subsequent disclosure on fixed credit
(1) If the interest rate in a credit agreement for fixed credit is a floating rate, the lender shall, at least once every twelve months after entering into the agreement, deliver to the borrower a...
- Section 67 - Subsequent disclosure on open credit
(1) Subject to subsection (2), the lender under a credit agreement for open credit shall deliver a statement of account to the borrower at least once monthly after entering into the...
- Section 68 - Assignment of negotiable instrument
(1) If a person assigns a negotiable instrument given to secure credit or a loan of money, the person shall deliver to the assignee with the negotiable instrument a copy of the statement required by...
- Section 69 - Obligations of assignee of lender
(1) If a lender assigns to a person the lender’s rights in connection with the extension of credit or the lending of money to a borrower, the assignee has no greater rights than, and is subject to the...
- Section 70 - Order to pay indemnity
(1) If an assignor of a negotiable instrument is convicted of a contravention of section 65, the High Court making the conviction may order that the person convicted is liable to indemnify the...
- Section 71 - Allowance for trade-in subject to adjustment
(1) If the amount to be paid by a consumer under a consumer agreementis determined after an allowance for a trade-in and is stated in the consumer agreement to be subject to adjustment after the...
- Section 72 - Application of Part
This Part applies to—
(a) leases for a fixed term of four months or more;
(b) leases for an indefinite term or that are renewed automatically until one of the parties takes positive steps to...
- Section 73 - Representations
(1) Any person who makes representations or causes representations to bemade about the cost of a lease, whether orally, in writing or in any other form, shall do so in accordance with the prescribed...
- Section 74 - Disclosure statement
(1) The maximum amount of compensation that may be charged to a lessee bya lessor for termination of a lease before the end of the lease term may be limited as prescribed.
(2) The maximum liability...
- Section 75 - Application of Part
This Part does not apply to remedies claimed in respect to unfair practices under Part III.
- Section 76 - Form of consumer notice
(1) If this Act requires a consumer to give notice to a supplier to request aremedy, the consumer may do so by giving notice in accordance with this section.
(2) The notice may be expressed in any...
- Section 77 - Consumer agreements not binding
(1) A consumer agreement is not binding on the consumer unless the agreement is made in accordance with this Act and the Regulations.
(2) Despite subsection (1), a court may order that a consumer is...
- Section 78 - Cancellation of consumer agreement
(1) If a consumer has a right to cancel a consumer agreement under this Act, the consumer may cancel the agreement by giving notice in accordance with section 76.
(2) The cancellation takes effect...
- Section 79 - Effect of cancellation
(1) The cancellation of a consumer agreement in accordance with this Actoperates to cancel, as if they never existed—
(a) the consumer agreement;
(b) all related agreements;
(c) all guarantees...
- Section 80 - Obligations on cancellation
(1) If a consumer cancels a consumer agreement, the supplier shall, unless the contrary is provided for in the agreement, in accordance with the prescribed requirements—
(a) refund to the consumer...
- Section 81 - Title to goods under trade-in payments
If the consumer recovers an amount equal to the trade-in allowance under section 71(1) and the title of the consumer to the goods delivered under the trade in arrangement has not passed from the...
- Section 82 - Illegal charges and payments
(1) If a supplier has charged a fee or an amount in contravention of this Act orreceived a payment in contravention of this Act, the consumer who paid the charge or made the payment may demand a...
- Section 83 - Consumer’s recourse on credit card charges
(1) A consumer who has charged to a credit card account all or any part of a payment described in subsection (2) may request the credit card issuer to cancel or reverse the credit card charge and any...
- Section 84 - Action in Court
(1) If a consumer has a right to commence an action under this Act, theconsumer may commence the action in the appropriate Court.
(2) If a consumer is successful in an action, unless in the...
- Section 85 - Waiver of notice
If a consumer is required to give notice under this Act in order to obtain a remedy, a court may disregard the requirement to give the notice or any requirement relating to the notice if it is in the...
- Section 86 - Confidentiality
(1) A person who obtains information in the course of exercising a power or carrying out a duty related to the administration of this Act or the Regulations shall preserve secrecy with respect to the...
- Section 87 - Disclosure of information
(1) If a supplier is required to disclose information under this Act, the disclosureshall be clear, comprehensible and in accordance with the standards set under the Standards Act (Cap. 496).
(2) If...
- Section 88 - Limitation of arbitration
(1) Any term or acknowledgment in a consumer agreement or a related agreement that requires or has the effect of requiring that disputes arising out of the consumer agreement be submitted to...
- Section 89 - Establishment of the Committee
(1) There is established a committee to be known as the Kenya Consumers Protection Advisory Committee.
(2) The Committee shall consist of—
(a) a Chairperson elected by members from among the members...
- Section 90 - Functions of the Committee
The functions of the Committee shall be—
(a) advising the Cabinet Secretary and ensuring relevant action on all aspects relating to consumer protection;
(b) formulation of policy relating to this...
- Section 91 - Compliance with Cap. 394
(1) No aircraft shall fly within Kenyan airspace unless such aircraft meets the safety requirements under the Civil Aviation Act (Cap. 394).
(2) Passenger air carriers shall provide such services...
- Section 92 - General penalty
Any person convicted of an offence under this Act for which no penalty is provided shall be liable to a fine not exceeding one million shillings, or to imprisonment for a term not exceeding three...
- Section 93 - Regulations
(1) The Cabinet Secretary shall make regulations for the better carrying out of the purposes of this Act.
(2) Without prejudice to the generality of subsection (1), the regulations madeunder this...
- Section 94 - Representation
There shall be consumer representation on all regulatory bodies and the respective appointing authorities shall have due regard to accredited consumer organizations and the Advisory Committee in...