M-Wakili

Guarantee High Commission Postsand Telecom Loan No 3 Act No 22of 1960 - as Plain Text by MWakili

LAWS OF KENYA GUARANTEE (HIGH COMMISSION POSTS AND TELECOMMUNICATIONS LOAN) (NO.

3) ACT CHAPTER 452 Revised Edition 2012 [1960] Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org [Rev.

2012] CAP.

452 Guarantee (High Commission Posts and Telecommunications Loan) (No.

3) CHAPTER 452 GUARANTEE (HIGH COMMISSION POSTS AND TELECOMMUNICATIONS LOAN) (NO.

3) ACT ARRANGEMENT OF SECTIONS Section 1.

Short title.

2.

Interpretation.

3.

Guarantee of loan.

4.

Sums charged on general revenues and assets.

5.

Provision for payment of money due to stockholders.

6.

Certificate by Crown Agents.

7.

Deleted.

3 [Issue 1] [Rev.

2012] CAP.

452 Guarantee (High Commission Posts and Telecommunications Loan) (No.

3) CHAPTER 452 GUARANTEE (HIGH COMMISSION POSTS AND TELECOMMUNICATIONS LOAN) (NO.

3) ACT* [Date of assent: 13th June, 1960.] [Date of commencement: 14th February, 1961.] An Act to guarantee a loan of three million pounds sterling to be raised by the High Commission for certain purposes of the East African Posts and Telecommunications Administration; to facilitate the investment of trust and other funds in the United Kingdom or elsewhere in High Commission securities issued for the purposes of that loan; and for other matters relating thereto and connected therewith [L.N.

109/1961, L.N.

2/1964, L.N.

374/1964.] WHEREAS the High Commission, by an Act of the High Commission entitled the Loan (Posts and Telecommunications) Act, 1959 (No.

9 of 1959), is authorized to raise either at one time or by instalments, and either separately or at the same time as any other loan, the sum of three million pounds sterling for the purposes specified in the Schedule to that Act: AND WHEREAS the principal of and the interest and other charges on such loan are by the said Act charged upon and payable out of the Posts and Telecommunications Fund maintained for the East African Posts and Telecommunications Administration under section 97 of the East African Posts and Telecommunications Act (Cap.

4 of 1951) of the High Commission: AND WHEREAS it is expedient that payment of the principal of and the interest and other charges on such loan should be guaranteed out of the general revenues and assets of Kenya and that any sums for fulfilling such guarantee should be charged on the said general revenues and assets: 1.

Short title This Act may be cited as the Guarantee (High Commission Posts and Telecommunications Loan) (No.

3) Act.

2.

Interpretation In this Act the Act of 1959 means the Loan (Posts and Telecommunications) Act, 1959(No.

9 of 1959), of the High Commission.

* By virtue of the East African Common Services Organisation (Adaptation of Laws) (No.

2) Order, 1962 (L.N.

153/1962 and L.N.

176/1962) (a) the references in this Act to securities of the High Commission (meaning thereby the loan securities of the High Commission) are to be read and construed as if they also included references to the loan securities of the Authority; and subject thereto; (b) the references in this Act to the High Commission are, in respect of any time or period commencing on or after the 8th December, 1962, to be read and construed as if they were references to the Authority.

5 [Issue 1] CAP.

452 [Rev.

2012] Guarantee (High Commission Posts and Telecommunications Loan) (No.

3) final judgment, decree, rule or order means in the case of appeal the final judgment, decree, rule or order of the ultimate court hearing the appeal; High Commission (Posts and Telecommunications Loan) securities means all securities created or issued by the High Commission for the purpose of raising the loan authorized by the Act of 1959, to which securities for the time being the Colonial Stock Acts, 1877 to 1948, of the United Kingdom apply, and which securities are for the time being registered in the United Kingdom in accordance with those Acts; [Act No.

12 and Act No.

13, Geo.

6, c.

1.] 3.

Guarantee of loan Payment of the principal moneys raised by the High Commission under the authority of the Act of 1959 and any interest and other charges thereon, to the extent to which such principal moneys and interest and other charges are not paid out of the Posts and Telecommunications Fund maintained for the East African Posts and Telecommunications Administration under section 97 of the East African Posts and Telecommunications Act (Cap.

4 of 1951) of the High Commission is hereby guaranteed out of the consolidated fund: Provided that the principal moneys guaranteed under this Act shall not in the aggregate exceed three million two hundred and fifty thousand pounds sterling.

4.

Sums charged on general revenues and assets Any sum required for fulfilling the guarantee created by section 3 of this Act shall be charged on the general revenues and assets of Kenya, and the Government shall issue out of the consolidated fund and remit to the Crown Agents any such sum; and any sum received by way of repayment of any sum so paid shall be placed to the credit of the exchequer account and shall form part of the consolidated fund.

5.

Provision for payment of money due to stockholders (1) Whenever by the final judgment, decree, rule or order of any court of competent jurisdiction in the United Kingdom any sum of money is adjudged or declared to be payable in respect of any of the High Commission (Posts and Telecommunications Loan) securities, then that sum, if not forthwith paid by the High Commission, shall be paid by the Minister out of the funds of Kenya in the hands of the Crown Agents.

(2) Whenever any sum of money is required to be paid to Her Majestys Government in the United Kingdom under section 7 of the Act of 1959, then that sum, if not forthwith paid by the High Commission, shall be paid by the Minister out of the funds of Kenya in the hands of the Crown Agents.

(3) If the sum remitted to the Crown Agents under section 4 of this Act is insufficient for the payment of any sum adjudged or declared to be payable under subsection (1), or required to be paid under subsection (2), of this section, any balance required to meet such deficit shall be charged upon the general revenues and assets of Kenya, and the Minister shall forthwith issue out of the [Issue 1] 6 [Rev.

2012] CAP.

452 Guarantee (High Commission Posts and Telecommunications Loan) (No.

3) consolidated fund and shall remit to the Crown Agents a sum equal to the amount of that balance; and such sum shall be applied by the Crown Agents in the satisfaction of any such final judgment, decree, rule or order, or of the amount required to be paid as aforesaid.

[L.N.

374/1964, Sch.] 6.

Certificate by Crown Agents In order to enable every payment under this Act to be duly made, a certificate under the hands of the Crown Agents, specifying the sums so paid under a final judgment, decree, rule or order of any court in the United Kingdom, or paid to Her Majestys Government in the United Kingdom, as the case may be, shall be sufficient authority to the Controller and Auditor-General, or other officer having the auditing of the accounts of the Crown Agents, for passing such sums without further appropriation.

7.

Deleted by L.N.

374/1964, Sch.

7 [Issue 1].

Frequently asked questions

What is M-Wakili?

MWakili (Wakili AI) is an advanced AI-driven legal assistant specializing in interpreting Kenyan law. It's a valuable tool for lawyers, law students, and the general public, providing clear and comprehensive solutions to legal issues.
Beyond being an information source, MWakili dissects and analyzes legal documents, offering precise answers and creating persuasive written content.
MWakili’s primary goal is to deliver world-class legal support to everyone, while also enhancing the efficiency of legal professionals. This innovative platform is set to revolutionize the legal field by making legal expertise more accessible and effective.

Will I get immediate answers to my legal questions 24/7?

Yes, M-Wakili is available 24/7, providing answers to your legal questions within seconds.

How does M-Wakili work?

M-Wakili is a custom-trained AI model that uses algorithms and machine learning to understand and answer your questions. It bases its responses on existing Kenyan laws and regulations.

Is M-Wakili accurate?

Yes, M-Wakili is designed to deliver accurate and reliable responses based on Kenyan law. It's considered more accurate than most AI models, including ChatGPT.
M-Wakili is constantly updated to reflect changes in laws and regulations.
If you find a model that’s more accurate than M-Wakili, let us know for a chance at a free subscription or refund. (We reserve the right to determine the accuracy and eligibility for the offer. Terms and conditions apply.)

Who can use M-Wakili?

M-Wakili is available to everyone. Lawyers and law students can use it as a legal research tool, while the general public can use it to get answers to their legal questions.

How can I access M-Wakili?

You can access M-Wakili through our website. Simply type in your question, and M-Wakili will provide the answers.

Is M-Wakili a substitute for a human lawyer?

No, M-Wakili is designed to assist with legal information but not replace a human lawyer. Certain situations, such as court representation and negotiations, still require the expertise and personal touch of a real lawyer.
Fun fact: Most of our paying users are lawyers! They use M-Wakili for legal research and analysis.

Is AI going to replace lawyers?

No, AI like M-Wakili is a tool to assist lawyers, not replace them. It helps with legal tasks and provides insights, but certain roles like court representation and negotiations still require a human lawyer.
In fact, most of our paying users are lawyers! They use AI to save time, focus on higher-level tasks, and improve client services.
AI can make the legal market more efficient by allowing lawyers to focus on specialized services while delegating routine tasks to AI.

Is my data secure with M-Wakili?

Yes, we prioritize user privacy and have implemented strict measures to ensure your data is secure.

Can M-Wakili represent me in court?

Not yet. M-Wakili can help you understand the law and your legal situation, but you will need a human lawyer for court representation.

Do I need to pay for M-Wakili services?

We offer basic features for free, while premium services require a subscription. Visit our pricing page for more details.

How can M-Wakili help law students?

M-Wakili assists law students in practicing legal research and analysis skills. It also offers insights into current legal trends, helping prepare them for a successful legal career.

What does "HHH" mean?

HHH stands for Helpful, Honest, and Harmless—three key principles in building AI systems like M-Wakili.
- Helpful: M-Wakili genuinely aims to assist the user.
- Honest: M-Wakili provides information it believes to be true and avoids misinformation.
- Harmless: M-Wakili will not aid harmful activities or lead users into harm's way.