The Legal Edge

Real Estate Bill and  impact both Ba nk Project Financing Legal Impact  Real Estate Agents Registration of Real Estate Agents  25. A person who wishes to be registered as a real estate practitioner must  apply as a estate agent once the Act comes into play and they shall apply to the Board in the prescribed form and upon payment of the prescribed fee. Practicing Certificate Requirement  28. (1) A person shall not practice as a real estate Practicing license agent unless that person has been issued a practicing license by the Board of Directors and has complied with the requirements of this Act. Penalty-5M/ 2 years Developers   (HFDI)  Registration of Developers  32. (1) No developer shall advertise, market, book, sell, offer for sale or invite persons to purchase any plot, apartment or building in any real estate project that is not registered in accordance with this Act. Compliance measures  A developer proposed pr...

In a world where the complexities of modern finance often clash with spiritual principles, sincere Muslims face a daunting challenge: obtaining capital for major purchases and business ventures without violating the sacred prohibition against riba (interest). As we discussed in the previous chapter, the simplicity of transactions during the time of the Prophet Muhammad stands in stark contrast to today's multifaceted economic landscape. Back then, finances were rooted in charity or community-based trading, where profit and risk were shared, fostering a sense of collaboration and fairness. Yet today, as our societies become increasingly entangled in profit-driven financial systems, finding ethical alternatives can feel like an uphill battle. The necessity of navigating these intricate waters while remaining true to one's faith is not just a challenge—it's a quest for creative solutions that honor Islamic values. This chapter invites you to explore the innovative pathways eme...

The key aspects of the Anti-Money Laundering and Combating of Terrorism Financing Laws Act, 2023 (AML/CTF Act) in Kenya, based on the information you provided.  This act amends several existing laws to strengthen AML/CTF measures. Here's a breakdown: 1. Purpose & Scope: Preamble: The core objective is to update and improve laws related to anti-money laundering, combating terrorism financing, and proliferation financing. Amendment of Existing Laws: The Act modifies various laws governing key sectors and entities in Kenya.  This includes:     State Corporations Act     Capital Markets Act     Insurance Act     Banking Act     Central Bank of Kenya Act     Microfinance Act     Limited Liability Partnership Act     Companies Act, 2015 2. Key Changes & Implications Definition of "Beneficial Owner": The Act adopts the definition of "beneficial owner" as defined in the Companies Act, 2015. This is...

  When does the 90 day’s Statutory Notice start counting? The basic rule is that a plaintiff must  serve the  defendant  within 90 days of filing the complaint or risk dismissal of their case. The defendants must also demonstrate that they are in receipt of the documents, this is called a  return of service. It is proof to the court that the defendant knows about the case. If the chargor does not comply within 90 days after the date of service of the notice, the 90 day starts counting and  the chargee may exercise any of the following remedies:-59 sue the chargor for any money due and owing under the charge. Gazette Notice No. 3137 - Practice Directions For The Protection Of Judges, Judicial Officers, Judiciary Staff, Other Court Users And The General Public From The Risks Associated With The Global Coronavirus Pandemic Gives no specific timelines on when the days start  tickling, it only gives guidelines on Service of documents and the court pro...