Section 66 of The Consumer Protection Act CAP 501: 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 disclosure statement for the period covered by the
statement disclosing the prescribed information.
(2) If the interest rate in a credit agreement for fixed credit is not a floating rate and the agreement allows the lender to change the interest rate, the lender shall, within thirty days after increasing the annual interest rate to a rate that is at least one per cent higher than the rate most recently disclosed to the borrower, deliver to the borrower a disclosure statement disclosing the prescribed information.
(3) The lender shall deliver to the borrower notice if the amount of the borrower’s scheduled payments required by a credit agreement for fixed credit is no longer sufficient to cover the interest accrued under the agreement because the principal set out in the agreement has increased as a result of default charges or the failure of the borrower to make payments under the agreement.
(4) The notice under subsection (3) shall be in writing, shall disclose the situation and shall be delivered within thirty days after the point when the amount of the scheduled payments is no longer sufficient to cover the accrued interest.
(5) Subject to subsection (6), if the parties have agreed to amend a credit agreement for fixed credit and the amendment changes any of the information prescribed under subsection (2), the lender shall, within thirty days after the amendment is made, deliver to the borrower a supplementary disclosure statement setting out the changed information.
(6) If an amendment to a credit agreement consists only of a change in the schedule of required payments by the borrower, it is not necessary for the supplementary disclosure statement to disclose any change to the annual percentage rate or any decrease in the total required payments by the borrower or the total cost of borrowing under the agreement.
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- 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
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- 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...