DEADLINE FOR MANDATORY RECORDATION OF IP RIGHTS IN KENYA HAS BEEN EXTENDED TO 1st JANUARY 2023

On the 26th of April 2022, the Kenyan Anti-Counterfeit Authority (“ACA”) published Public Notice, No. 1/2022, in which it announced a deadline for the recordal on the Anti-Counterfeit Authority Integrated Management System (“AIMS”) of all goods bearing Intellectual Property Rights being imported into Kenya.

That Notice required that all Intellectual Property Rights Holders to record their Intellectual Property Rights through the AIMS system by no later than 1st July 2022.

On the 23rd May 2022 after extensive stakeholders engagement, the ACA issued Public Notice no.2/2022,  extending the deadline to submit a mandatory recordal until 1st January 2023 to afford Intellectual Property Rights Holders more time for compliance.

The ACA further advised that it is considering the validity of recordal application approved anytime this year to also run from 1st January 2023. This means that any recordal applications received and processed between now and December 2022 will only begin the 1-year validity countdown from 1st January 2023. Therefore, Intellectual Property Rights Holders are encouraged to submit their recordal applications timely.

CORPORATE GOVERNANCE COMPLIANCE OF THE REGULATION 18 OF THE BANKING AND FINANCIAL INSTITUTIONS ACT (CORPORATE GOVERNANCE) REGULATIONS BY BANK BOARD MEMBERS.

Regulation 18 of the Banking and Financial Institutions (Corporate Governance) Regulations, Government Notice Number 767 of 2021, requires Bank’s Board Members to submit to the Bank of Tanzania (BoT), a written undertaking that the Board Members shall fulfil their obligations towards maintaining a safe, sound and profitable bank and comply with the provisions of Regulation 18 of the Banking and Financial Institutions (Corporate Governance) Regulations, Government Notice Number 767 of 2021 and directives issued by Bank of Tanzania (BoT).

Regulation 18 the Banking and Financial Institutions (Corporate Governance) Regulations, Government Notice Number 767 of 2021 states that:

A member of the Board shall make and submit to the Bank of Tanzania a written undertaking that he shall:

Fulfil his obligations towards maintaining a safe, sound, and profitable bank or financial institution; and
Comply with the provisions of the Banking and Financial Institutions Act, Bank of Tanzania Act, Foreign Exchange Act, regulations, guidelines, and directives issued by the Bank from time to time.

The main objective of the law is to ensure that Banks maintain stability, safety, and soundness of the financial system, aimed at reduction of risk of loss to depositors. The

Regulations go further under Regulation 34 to stipulate that:

In the performance of his functions under the Act and these Regulations, a director: –

Shall execute an undertaking that he shall: –
Jointly and severally ensure that the bank or financial institution operates in a safe, sound, and profitable manner; and
Liable for non-compliance with such undertaking.

A director who violates any provision of Acts or Regulation issued thereunder may be fined, removed from office, or disqualified from holding any position or office in any bank or financial institution in Tanzania.

It is important therefore Board Members to understand that, once they are appointed as Board Members of any Bank of Financial Institution in Tanzania, adherence to the provisions of Regulation 18 the Banking and Financial Institutions (Corporate Governance) Regulations, Government Notice Number 767 of 2021, is mandatory.

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THE PROTECTION OF WELL-KNOWN TRADEMARKS LOUDLY RECOGNISED IN TANZANIA BY THE DECISION OF THE HIGH COURT COMMERCIAL DIVISION