ADVOKS GLOBAL · KENYA
Kenya Reinsurance Corporation Act
4. Trust property
Edition: 2022-12-31 · In force
4. Trust property
(1)Any property or right vested in the Company by virtue of this Act which immediately before the appointed day, vested in the Kenya Reinsurance Corporation, either alone or jointly with any other person—(a)as trustee or custodian trustee under any trust deed, settlement, covenant or under any other instrument; or(b)as executor or trustee of any person; or(c)as judicial trustee appointed by order of any court; or(d)in any other fiduciary capacity,shall, on the appointed day, vest in the Company alone or jointly with such other person, upon the same trusts and subject to the same powers, provisions, liabilities and obligations.(2)Any existing instrument or order of any court under or by virtue of which any property or right vested in Kenya Reinsurance Corporation in any capacity specified in subsection (1), including, in the case of a will, any grant of probate thereof, and any provision therein or any existing contract or arrangement for the payment or retention by the Kenya Reinsurance Corporation of remuneration for its services in any such capacity shall, on and after the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein to the Kenya Reinsurance Corporation, there were substituted a reference to the Company.