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Regulation of asset-backed securities in Kenya : a comparative analysis
Mini Dissertation (LLM)--University of Pretoria, 2016.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2017
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| _version_ | 1867613598007689216 |
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| access_status_str | Open Access |
| author2 | Botha, Monray Marsellus |
| author_browse | Botha, Monray Marsellus |
| author_facet | Botha, Monray Marsellus |
| collection | Thesis |
| dc_rights_str_mv | © 2017 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (LLM)--University of Pretoria, 2016. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/60073 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:38:41.391Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2017 |
| publishDateRange | 2017 |
| publishDateSort | 2017 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/60073 Regulation of asset-backed securities in Kenya : a comparative analysis Botha, Monray Marsellus mutegijm@gmail.com Mutegi, James Mutugi UCTD Capital markets act asset-backed securities SDG-16: Peace, justice and strong institutions Law theses SDG-16 Mini Dissertation (LLM)--University of Pretoria, 2016. Kenya has had a substantive legal framework for asset-backed securities (ABS) since 2007 but is yet to see its first ABS issuance to date. The Capital Markets Act, Chapter 485A, Laws of Kenya, as well as the Capital Markets (Asset-backed Securities) Regulations, 2007 have been decried as being inadequate; but without significant study into the legal and regulatory inequities thereof. ABS are securities that entitle investors to a return principally based on the cash-flows attributable to underlying securitised receivables. Such receivables may include mortgages, car and student loans, which when amassed may pose liquidity challenges to their originators. Thus an efficient ABS market would provide diverse wider financing options for originators and possibly ease access to credit. This dissertation then seeks to investigate the failings of Kenya?s regulatory landscape on ABS, with a focus on the intricacies of the true sale of the receivables, choice and structuring of special-purpose vehicles (SPVs), bankruptcy-remoteness of SPVs, taxation obligations and other legal and policy perspectives. The review is compared against the lessons gleaned in Africa?s largest securitisation market, South Africa, while recognising the difference in legal systems with Kenya. The United Kingdom is an additional comparator due to the common law similarities as well as the development of its capital markets. The dissertation identifies key conflicts and ambiguities in Kenya?s ABS framework, as well as critiquing current attempts at remedying them. Summarily, it provides an unexplored view into the potential workings of ABS as a source of finance in Kenya. Mercantile Law LLM Unrestricted 2017-04-26T11:51:46Z 2017-04-26T11:51:46Z 2017/04/06 2016 Mini Dissertation Mutegi, JM 2016, Regulation of asset-backed securities in Kenya : a comparative analysis, LLM Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/60073> A2017 http://hdl.handle.net/2263/60073 en © 2017 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Capital markets act asset-backed securities SDG-16: Peace, justice and strong institutions Law theses SDG-16 Regulation of asset-backed securities in Kenya : a comparative analysis |
| title | Regulation of asset-backed securities in Kenya : a comparative analysis |
| title_full | Regulation of asset-backed securities in Kenya : a comparative analysis |
| title_fullStr | Regulation of asset-backed securities in Kenya : a comparative analysis |
| title_full_unstemmed | Regulation of asset-backed securities in Kenya : a comparative analysis |
| title_short | Regulation of asset-backed securities in Kenya : a comparative analysis |
| title_sort | regulation of asset backed securities in kenya a comparative analysis |
| topic | UCTD Capital markets act asset-backed securities SDG-16: Peace, justice and strong institutions Law theses SDG-16 |
| url | http://hdl.handle.net/2263/60073 |