M-Wakili

Guarantee High Commission Railwaysand Harbours Loan Act No 2Cap 456 - as Plain Text by MWakili

LAWS OF KENYA GUARANTEE (HIGH COMMISSION RAILWAYS AND HARBOURS LOAN) (NO.

2) ACT CHAPTER 456 Revised Edition 2012 [1962] Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org [Rev.

2012] CAP.

456 Guarantee (High Commission Railways and Harbours Loan) (No.

2) CHAPTER 456 GUARANTEE (HIGH COMMISSION RAILWAYS AND HARBOURS LOAN) (NO.

2) ACT ARRANGEMENT OF SECTIONS Section 1.

Short title 2.

Interpretation 3.

Guarantee of loans 4.

Sums charged on general revenues 5.

Provision for payment of money due to stockholder 6.

Certificate by Crown Agents 7.

Deleted.

3 [Issue 1] [Rev.

2012] CAP.

456 Guarantee (High Commission Railways and Harbours Loan) (No.

2) CHAPTER 456 GUARANTEE (HIGH COMMISSION RAILWAYS AND HARBOURS LOAN) (NO.

2) ACT* [Date of assent: 27th October, 1953.] [Date of commencement: 30th November, 1954.] An Act to guarantee loans of three and a half million, and thirty-two million seven hundred and fifty thousand, pounds sterling or the equivalent in pounds sterling and other currencies to be raised by the High Commission for certain purposes of the East African Railways and Harbours Administration, to facilitate the investment of trust and other funds in the United Kingdom in High Commission securities issued for the purposes of such loans, and for other matters relating thereto and connected therewith [Act No.

31 of 1953, Act No.

4 of 1955, L.N.

2/1964, L.N.

374/1964.] WHEREAS the High Commission, by an Act of the High Commission entitled the Loan (Railway and Harbours) (1951) Act (Cap.

14(1951)) hereinafter called the Act of 1951) as amended by an Act of the High Commission entitled the Loan (Railways and Harbours) (1951) (Amendment) Act, 1953, (Act No.

6 of 1953) made in accordance with the provisions of section 28 (1) (a) of the East Africa (High Commission) Order in Council, 1947, is authorized to raise, either at one time or by instalments, and either separately or at the same time as any other loan, a loan of three and a half million pounds sterling or the equivalent in pounds sterling and other currencies for certain purposes of the East African Railways and Harbours Administration (hereinafter called the Administration) specified in such Act: AND WHEREAS the High Commission, by an Act of the High Commission entitled the Loan (Railways and Harbours) Act, 1952 (Act No.

7 of 1952 (hereinafter called the Act of 1952) made in accordance with the said Order in Council, is authorized to raise, either at one time or by instalments and either separately or at the same time as any other loan, a loan of thirty-two million, seven hundred and fifty thousand pounds sterling, or the equivalent in pounds sterling and other currencies, for certain purposes of the said Administration specified in the Schedule thereto: AND WHEREAS the principal moneys authorized to be raised by the Act of 1951 and the Act of 1952 respectively, and any interest and other charges thereon, are by such Acts charged upon and payable out of the Railways and Harbours Fund maintained by the High Commission for the Administration under section 22 of the East African Railways and Harbours Administration Act (Cap.

3 (1951) of the High Commission: * By virtue of the East African Common Services Organization (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 hereby 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.

456 [Rev.

2012] Guarantee (High Commission Railways and Harbours Loan) (No.

2) AND WHEREAS by section 7 of the Act of 1951 (as inserted by the said amending Act of 1953) and by section 8 of the Act of 1952 it is provided (in the case of each of those Acts, namely the Act of 1951 and the Act of 1952) that if any portion of the loan thereby authorized is raised by means of a loan from the International Bank for Reconstruction and Development, and if it is lawful for the Treasury to guarantee such loan, then any sum issued out of the Consolidated Fund of the United Kingdom on account of the guarantee of such loan by the Treasury shall be repaid with interest to the Treasury out of the said Fund: AND WHEREAS by an Act entitled the Loan (Railways and Harbours) (1952) (Amendment) Act, 1953, it is provided that any portion of the loan authorized to be raised by the Act of 1952 may be raised by means of advances from the Government of the United Kingdom out of credit provided by the Mutual Security Agency as hereinafter defined: 1.

Short title This Act may be cited as the Guarantee (High Commission Railways and Harbours Loans) (No.

2) Act.

2.

Interpretation In this Act, except where the context otherwise requires final judgment, decree, rule or order means in case of appeal the final judgment, decree, rule or order of the ultimate court hearing the appeal; High Commission (Railways and Harbours Loans) securities means all securities created or issued by the High Commission on behalf of the Administration for the purpose of raising the loans of three and a half million, and thirty-two million, seven hundred and fifty thousand, pounds sterling or the equivalent in pounds sterling and other currencies respectively authorized by the Act of 1951 and the Act of 1952, to which securities for the time being the Colonial Stock Acts, 1877 to 1948, (No.

12 and 13 Geo, 6, C.1.) of the United Kingdom apply, and which are for the time being registered in the United Kingdom in accordance with the provisions of those Acts; Mutual Security Agency means the Agency of the United States Government set up to carry out the programme of military, economic and technical assistance authorized by the Mutual Security Act, 1951, of the United States of America, as amended; the Treasury means the Commissioners for the time being of Her Majestys Treasury in the United Kingdom.

3.

Guarantee of loans (1) The payment of the principal moneys authorized to be raised by the High Commission under the authority of the Act of 1951 and the Act of 1952 respectively, and any interest and other charges thereon, is, to the extent to which such principal moneys and interest and other charges are not paid out of the Railways and Harbours Fund maintained for the Administration under the [Issue 1] 6 [Rev.

2012] CAP.

456 Guarantee (High Commission Railways and Harbours Loan) (No.

2) provisions of section 22 of the East African Railways and Harbours Administration Act, (Cap.

3) (1951) of the High Commission, hereby guaranteed out of the general revenues and funds of Kenya: Provided that the aggregate amount of principal moneys guaranteed under this Act shall not exceed thirty-seven and a half million pounds sterling.

(2) Without prejudice to the guarantee created by subsection (1) of this section, there is hereby guaranteed out out of the general revenues and funds of Kenya the repayment to the Treasury of any sums due to be repaid to the Treasury under section 7 of the Act of 1951 or under section 8 of the Act of 1952 and the repayment under section 9 of the Act of 1952 to the Government of the United Kingdom of any advances received by the High Commission from that Government out of credit provided by the Mutual Security Agency.

[Act No.

4 of 1955, s.

2.] 4.

Sums charged on general revenues Any sum required for fulfilling the guarantees created by this Act shall be charged upon and paid out of the general revenues and other funds of Kenya, and the Minister shall appropriate out of the general revenues and funds of Kenya and remit to the Crown Agents any such sum; and any sum received by the Minister by way of the repayment of any sum so paid shall form part of the general revenues of Kenya.

[Act No.

4 of 1955, s.

3, L.N 374/1964, Sch.] 5.

Provision for payment of money due to stockholder (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 (Railways and Harbours Loans) 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 without other or further appropriation than this Act.

(2) Whenever any sum of money is required to be paid to the Treasury under section 7 of the Act of 1951 or under section 8 of the Act of 1952, or to the Government of the United Kingdom under section 9 of the Act of 1952, 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 without other or further appropriation than this Act.

(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) of this section or of any sum required to be repaid to the Treasury or the Government of the United Kingdom as aforesaid, any balance required to meet such deficit shall be charged upon and paid out of the general revenues and funds of Kenya, and the Minster shall forthwith appropriate out of such general revenues and funds and shall remit to the Crown Agents a sum equal to the amount of the said balance; and the said sum shall be applied by the Crown Agents in the satisfaction of the amount due under any such final judgment, decree, rule or order or the amount due to the Treasury or the Government of the United Kingdom, as the case may be, as aforesaid.

[L.N 374/1964, Sch.] 7 [Issue 1] CAP.

456 [Rev.

2012] Guarantee (High Commission Railways and Harbours Loan) (No.

2) 6.

Certificate by Crown Agents In order to enable every payment due to be made by the Crown Agents under this Act to be duly made, a certificate under the hand of the Crown Agents, specifying the sums so paid under a judgment, decree, rule or order of any court or to the Treasury or to the Government of 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 sum without further appropriation.

7.

Deleted by L.N.

374/1964, Sch.

[Issue 1] 8.

Frequently asked questions

What is M-Wakili?

M-Wakili (Wakili AI) is an advanced AI-driven legal aide proficient in interpreting Kenyan law.
This tool is useful for lawyers, law students, and the public, providing exhaustive and concise solutions to legal issues.
M-Wakili is more than an information database, it dissects and analyzes legal documents, clarifying their essence and implications to answer queries accurately. Alongside its legal expertise, M-Wakili also produces persuasive written content.
The primary aim of M-Wakili is to provide world-class legal support to people from all walks of life, while also aiding the advancement of law professionals by enhancing research efficiency.
This innovative platform promises to revolutionize the legal field, enhancing the accessibility and effectiveness of legal expertise.

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

Yes the service is available 24/7 and you will get 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 a user's questions. It bases its responses on the existing Kenyan laws and regulations.

Is M-Wakili accurate?

Yes, M-Wakili is designed to provide accurate and reliable responses based on Kenyan Law and is considered more accurate than almost all AI models including ChatGPT. Additionally, it is constantly being updated and improved to ensure it is aware of the occurring changes in the laws and regulations.
If you find any model that is more accurate than M-Wakili, please let us know and we might give you a free subscription or a *refund. (We reserve the right to determine the accuracy of the model and if you should be given a refund or free subscription. Our terms and conditions apply.)

Who can use M-Wakili?

Everyone can use M-Wakili. Lawyers and law students can use it as a legal research tool, and the general public can use it to get answers to their legal queries.

How can I access M-Wakili?

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

Is M-Wakili a substitute for a human lawyer?

No it cannot and will not be, M-Wakili is designed to assist and provide legal information and is great at that. However, there are still situations where the expertise and personal touch of a real lawyer is necessary, such as in court representation and negotiations.
Fun fact, most of our paying users are lawyers! They use M-Wakili to help them with legal research and analysis.

Is AI going to replace lawyers?

No. M-Wakili AI is great for helping real-life lawyers with legal work and assisting people in understanding legal problems, providing many ways how to handle them. However, AI cannot replace the human touch of a real lawyer. There are still situations where the expertise and personal touch of a real lawyer is necessary, such as in court representation and negotiations.
In fact, most of our paying users are lawyers! They are excited about the possibilities of AI in the legal industry and are leveraging it to save time and energy and focus on higher-level tasks.
AI can make the legal market more convenient for both sides by allowing real lawyers to focus on specialized services while using AI to handle certain tasks.

Is my data secure with M-Wakili?

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

Can M-Wakili represent me in court?

Not yet, M-Wakili cannot represent you in court. It 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?

Currently, we offer basic features for free while premium services require a subscription fee. Please visit our pricing page for more details.

How can M-Wakili help law students?

M-Wakili can assist law students in learning and practicing their legal research and analysis skills. It may also offer insights into current legal trends and issues, helping prepare them for their future in law.

What does "HHH" mean?

Helpful, Honest, and Harmless (HHH) are three components of building AI systems (like M-Wakili) that are aligned with people’s interests.
- Helpful: M-Wakili wants to genuinely help the user
- Honest: M-Wakili shares information it believes to be true, and avoids made-up information
- Harmless: M-Wakili will not cooperate in aiding the user in harmful activities or lead the user to harms way