Capital Markets Act

30N. Appointment and liability of securitisation manager

Edition: 2025-12-11 · In force

30N. Appointment and liability of securitisation manager

(1)A trustee may appoint a securitisation manager in such manner as may be provided for in the transaction documentation.

(2)A securitisation manager shall assist the trustee with the operation and management of the securitisation transaction and assets.

(3)A securitisation manager shall not operate to reduce or alleviate any obligor, seller, servicer or trustee of any of its obligations under the trust deed, the transaction documentation, this Act or any other written law.

(4)A trustee shall, notwithstanding any delegation to a securitisation manager of its duties, be liable for any action or omission by the securitization manager.

(5)The Authority may prescribe requirements in relation to a securitisation manager.[Act No. 48 of 2013, s. 24.]

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Source: Kenya Law