This Order may be cited as the Kenya Development Corporation Limited (Vesting) Order, 2021.

In this Order, unless the context otherwise requires—

Notwithstanding anything contained in any written other law in force, the assets, liabilities, obligations, property, rights, securities and undertakings vested in a Development Finance Institution as set out in the Schedule or otherwise existing before the vesting date shall, with effect from the vesting date, be deemed to have been transferred to, vested in, imposed on, or be enforceable against the Kenya Development Corporation Limited.

Notwithstanding the assets, liabilities, obligations, property, rights, securities and undertakings set out in the Schedule, any other assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution that are found to have belonged to the Development Finance Institution on the day before the vesting date shall be deemed to have been transferred to the Kenya Development Corporation Limited.

Subject to this Order, the rights, obligations and liabilities in respect of the assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution set out in the Schedule shall, with effect from the vesting date, be deemed to have been transferred to, vested in, imposed on, or be enforceable against the Kenya Development Corporation Limited.

Any reference to a Development Finance Institution in any agreement, document or instrument entered into by the Development Finance Institution in trust on behalf of, or for the benefit of, the Development Finance Institution shall be deemed to be a reference to the Kenya Development Corporation Limited.

Any proceedings, including legal and arbitration proceedings, taken by or against a Development Finance Institution on or before the vesting date that remain uncompleted on the vesting date, shall be deemed to be proceedings taken by or against the Kenya Development Corporation Limited and any judgement or award obtained by or against the Development Finance Institution and not fully satisfied on or before the vesting date shall be deemed to be a judgment or award obtained by or against the Kenya Development Corporation Limited.

Any contract subsisting between a Development Finance Institution and another person on or before the vesting date shall be deemed to subsist between the Kenya Development Corporation and that other person.

Any licence, right or permit issued or granted to a Development Finance Institution which is in force on or before the vesting date shall remain in force for its unexpired period as if it had been issued or granted to the Kenya Development Corporation Limited.

Any person employed by a Development Finance Institution on or before the vesting date shall be deemed to be an employee of the Kenya Development Corporation Limited.

Nothing in this Order shall terminate, discharge, invalidate or prejudicially affect the assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution solely on account of the transfer or vesting under this Order.

This Order may be cited as the Kenya Development Corporation Limited (Vesting) Order.

In this Order, unless the context otherwise requires—

"assets" means the Development Finance Institutions’ rights, obligations, titles, interests and estates, real or personal, recorded or unrecorded, movable or immovable, tangible or intangible, used in or related to the Development Finance Institutions including accounts, shares, negotiable instruments, funds, schemes, customers and monies;

"contract" includes document, memorandum, agreement, conveyance, deed, lease, licence, permit, exemption, power of attorney, undertaking, security or any other similar instrument, entered into by, made with, granted to or addressed to a Development Finance Institution, whether alone or with another person, and whether as principal or agent;

"customer" means a person who has an account or other dealing, transaction, or arrangement with a Development Finance Institution in the ordinary course of business;

"Development Finance Institution" means the—

"liability" means a duty and obligation of every description, whether actual or contingent, or present or future including a debt, charge, duty and any obligation arising from a past or existing contract or court case, and whether payable or to be performed or observed in Kenya or elsewhere;

"property" means the property listed in the Schedule including property included in the balance sheet of a Development Finance Institution as at the close of business on the date preceding the vesting date in accordance with its normal practice; property held in trust or as bailee; and securities, rights and powers of every description;

"right" means any right or power, whether actual, contingent or prospective;

"security" includes a mortgage or charge (whether legal or equitable), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, indemnity or undertaking, or any other instrument for or means of securing the payment or discharge of a debt, liability or obligation, present or future, and actual or contingent;

"subsidiary" means any company in respect of which a Development Finance Institution is the beneficial owner of the whole of or majority of its issued share capital;

"undertaking" means the business and property vested in, belonging to or held by a Development Finance Institution and any liability to which it was subject in respect of its business as at the close of business on the date preceding the vesting date; and

"vesting date" means the date this Order comes into force.

Notwithstanding anything contained in any written other law in force, the assets, liabilities, obligations, property, rights, securities and undertakings vested in a Development Finance Institution as set out in the Schedule or otherwise existing before the vesting date shall, with effect from the vesting date, be deemed to have been transferred to, vested in, imposed on, or be enforceable against the Kenya Development Corporation Limited.

Notwithstanding the assets, liabilities, obligations, property, rights, securities and undertakings set out in the Schedule, any other assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution that are found to have belonged to the Development Finance Institution on the day before the vesting date shall be deemed to have been transferred to the Kenya Development Corporation Limited.

Subject to this Order, the rights, obligations and liabilities in respect of the assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution set out in the Schedule shall, with effect from the vesting date, be deemed to have been transferred to, vested in, imposed on, or be enforceable against the Kenya Development Corporation Limited.

Any reference to a Development Finance Institution in any agreement, document or instrument entered into by the Development Finance Institution in trust on behalf of, or for the benefit of, the Development Finance Institution shall be deemed to be a reference to the Kenya Development Corporation Limited.

Any proceedings, including legal and arbitration proceedings, taken by or against a Development Finance Institution on or before the vesting date that remain uncompleted on the vesting date, shall be deemed to be proceedings taken by or against the Kenya Development Corporation Limited and any judgement or award obtained by or against the Development Finance Institution and not fully satisfied on or before the vesting date shall be deemed to be a judgment or award obtained by or against the Kenya Development Corporation Limited.

Any contract subsisting between a Development Finance Institution and another person on or before the vesting date shall be deemed to subsist between the Kenya Development Corporation and that other person.

Any licence, right or permit issued or granted to a Development Finance Institution which is in force on or before the vesting date shall remain in force for its unexpired period as if it had been issued or granted to the Kenya Development Corporation Limited.

Any person employed by a Development Finance Institution on or before the vesting date shall be deemed to be an employee of the Kenya Development Corporation Limited.

Nothing in this Order shall terminate, discharge, invalidate or prejudicially affect the assets, liabilities, obligations, property, rights, securities and undertakings of a Development Finance Institution solely on account of the transfer or vesting under this Order.

This Order may be cited as the Kenya Ports Authority (Vesting) Order, 2023.

In this Order, unless the context otherwise requires —

The functions and rights vested in the Kenya Ferry Services Limited shall, from the date of the commencement of the Asset and Business Transfer Agreement between the Kenya Ports Authority and Kenya Ferry Services Limited dated the 16th June, 2021, be deemed to have been transferred and vested in the Kenya Ports Authority with effect from the commencement date.

The assets, liabilities, obligations, property, rights, securities and undertakings set out in the Schedule, and any other assets, liabilities, obligations, property, rights, securities and undertakings of the Kenya Ferry Services Limited that are found to have belonged to the Kenya Ferry Services Limited on the day before the vesting date shall be deemed to have been transferred to the Kenya Ports Authority.

All existing legal or alternative dispute resolution proceedings, or application to any authority by or against the Kenya Ferry Services Limited, shall not abate, be discontinued or in any way be prejudiced by reason only of the provisions of this Order, but the same may be prosecuted or continued by or against the Kenya Ports Authority, and any judgment or award obtained by or against the Kenya Ferry Services Limited before the commencement date shall thereafter be enforceable by or against the Kenya Ports Authority.

The custody of any documents, goods or other property held by the Kenya Ferry Services Limited as bailee for any other person shall be transferred to the Kenya Ports Authority from the vesting date, and the rights and obligations of the Kenya Ferry Services under any contract of bailment shall be transferred or deemed to be transferred to the Kenya Ports Authority.

Any past or existing contracts, agreements, conveyances, deeds, leases, licences, permits, exemptions, powers of attorney, undertakings, securities and other instruments arising from or related to past or existing projects and consultancies entered into by, made with or granted or addressed to the Kenya Ferry Services Limited, whether alone or with any other person, and whether as principal or agent, shall, as from the commencement date, be binding and have full force and effect in every respect against or in favour of the Kenya Ports Authority as if the Kenya Ports Authority had been party thereto, bound thereby or entitled to the benefit therefor, and as if any reference, express or implied, to any member, officer or employee of the Kenya Ports Authority in respect of anything to be done on or after the commencement date were substituted a reference to the member, officer or employee of the Kenya Ports Authority who most nearly corresponds thereto.

Any reference to an entity in any agreement or instrument entered into by the Kenya Ferry Services Limited in trust on behalf of or for the benefit of the Government of Kenya or the Cabinet Secretary, in relation to the assets specified in the Schedule, shall be deemed to be references to the Kenya Ports Authority.

Any person employed by the Kenya Ferry Services Limited on or before the vesting date shall be deemed to be an employee of the Kenya Ports Authority.

Nothing in this Order shall terminate, discharge or prejudicially affect the assets, liabilities, obligations, property, rights, securities and undertakings of the Kenya Ferry Services Limited solely on account of the transfer or vesting under this Order.