An ACT of Parliament to provide a regulatory framework for the privatization of public entities; to establish the Privatisation Authority; and for connected purposes.

Enacted by the Parliament of Kenya, as follows-

PART 1-Preliminary

1. This Act may be cited as the Privatisation Act, 2023
2. (1) In this Act, unless the context otherwise requires-

“Authority” means the privatization Authority established under section 8;

“Board” means the Board of the Authority constituted under section 10;

“Cabinet Secretary” means the Cabinet Secretary to the National Treasury;

“Corporation Secretary” means the Corporation Secretary appointed in accordance with section 16;

“Managing Director” means the Managing Director of the Authority appointed under section 15;

“National Government-linked Corporation” means a corporation in which the national Government or a national government entity is a shareholder with less than fifty per centum of the share capital of the corporation;