ADVOKS GLOBAL · KENYA
The Capital Markets (Alternative Investment Funds) Regulations
14. Tenure
Edition: 2023-12-15 · In force
14. Tenure
(1)The tenure of the fund shall be as provided in the formation documents.(2)Extension of the tenure of the fund may be permitted subject to approval of two-thirds of the participants by number and value of their investment in the fund.(3)In the event there is no approval of an extension by the participants, the fund shall fully liquidate within one year following expiration of the stated tenure or extended duration thereof.(4)The Authority may extend the duration for liquidating the fund under subregulation (3) upon request by the fund manager.