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Here is the abridged version of the Judicial Review on Interim Administration

 HC Misc. Appl. No 409 of 2017 R Vs RBA ex parte Network for Water and Sanitation International and Network for Water and Sanitation International Staff Retirement Benefit Scheme

Odunga J, Delivered on 8 February 2018

 Introduction

 The Retirement Benefits Authority (the Authority) is a State Corporation established under the Retirement Benefits Act, Cap 197 (the Act). The primary role of the Authority is stated in the preamble to the Act as, the regulation, supervision and promotion of retirement benefits schemes and development of the retirement benefits sector.

 The Act provides for unique statutory action that can be undertaken by the Authority to further its mandate. The circumstances under which an interim administrator may be appointed, the manner of appointment, term and responsibilities of the interim administrator is provided in Section 45 of the Act as follows:

 45. Appointment of interim administrator

 

(1)   This section applies and the powers conferred by subsection (2) may be exercised in the following circumstances—

 

(a)   If the trustees of a scheme fail to submit to the Chief Executive Officer the annual accounts required under section 34 for over six months after the end of the financial year to which they relate;

 

(b)  If the trustees are found to have submitted or provided any accounts, returns, statements, books, records, correspondence, documents or other information relating to the scheme fund which are false or misleading; or

 

(c)   If the Chief Executive Officer, whether on inspection or otherwise, becomes aware of any fact or circumstance which, in his opinion, warrants the exercise of the relevant power in the interests of the sponsors and members of the scheme or in the public interest.

 (2)   The Chief Executive Officer may, with the approval of the Authority—

  (a)   Appoint any person (in this Act referred to as “an interim administrator”) to assume the management, control and conduct of the affairs and business of the trustees, the manager, the custodian or the administrator, as the case may be, to exercise all the powers of the trustees, the manager, the custodian or the administrator to the exclusion of such trustees, manager, custodian or administrator;

 (b)  Remove any officer or employee of the trustees, the manager, the custodian or the administrator who, in the opinion of the Chief Executive Officer, has caused or contributed to any contravention of the provisions of this Act or any regulations made thereunder or to any deterioration in the financial stability of the scheme or has been guilty of conduct detrimental to the interests of the members or sponsors of the scheme; or

 (c)   By notice in the Gazette, revoke or cancel any existing power of attorney, mandate, appointment or other authority by the trustees, the manager, the custodian or the administrator in favour of any officer, employee or any other person.


 
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