ADVOKS GLOBAL · KENYA
Capital Markets Act
30U. Obligations applicable to restricted offers
Edition: 2025-12-11 · In force
30U. Obligations applicable to restricted offers
(1)A reference in this Act to a false, untrue, misleading or deceptive statement in a prospectus or to the omission of information or a statement when making an application relating to or in connection with any securitisation transaction or any issue or offer of asset backed securities shall—(a)include any statement made in or any representation or warranty included in any prospectus or offering memorandum, transaction document or made to any credit rating agency in connection with the rating of any asset backed securities or the review of such a rating and includes any omission; and(b)include any information, statement in, or, omission from, the continuing disclosure obligations under this Act.(2)The provisions of section 30D, 30E and 30F shall apply to an application relating to or in connection with a securitization transaction or issue or offer of asset backed securities under this Part.(3)The provisions of section 30D, 30E, 30JM, 30K and 33O shall apply to an offering memorandum in relation to an issue or offer involving a restricted offer, whether it is made in combination with or is a tranche of another issue or offer.(4)The powers of the Authority to—(c)make an application to court in case of unfair prejudice under section 33C; or(d)require production of records and documents under section 33D;(e)issue a direction under section 30G,shall apply to restricted offers in the same manner as if the asset backed securities had been listed.