Return as to interest paid or credited by banks, etc.
(1)
The Commissioner may, by notice in writing, require a person
carrying on a business who, in the ordinary course of the operation thereof,
receives or retains money in circumstances that interest becomes payable
thereon, and in particular, a person carrying on the business of banking, to
furnish him within a reasonable time, not being less than thirty days from the
date of service of the notice, with a return of all interest paid or credited by that
person during a year specified in the notice in the course of his business, or any
part of his business that may be so specified, on money received or retained in
Kenya giving the names and addresses of the persons to whom the interest was
paid or credited and stating, in each case, the amount of the interest; but the year
specified in the notice shall not be a year ending more than three years before the
date of the service of the notice.(2)
Without prejudice to the powers conferred by subsection (1), a
separate notice may be served under that subsection as respects the transactions
carried on at any branch of a business that may be specified in the notice, and
that separate notice shall, if served on the manager or other person in charge of
the branch, be deemed to have been duly served on the person carrying on the
business, and where a separate notice is so served as respects the transactions
carried on at any branch, a notice subsequently served under subsection (1) on
the person carrying on the business shall not be deemed to extend to a
transaction to which the separate notice extends.(3)
This section shall, with any necessary adaption, apply in relation
to the Kenya Post Office Savings Bank, and shall have effect notwithstanding
anything in any written law precluding the disclosure of the name of a depositor
or of information in relation to his deposit.Previous Next