ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
10. Alterations subject to approval of the Authority.
Edition: 2022-12-31 · In force
10. Alterations subject to approval of the Authority.
(1)Subject to Regulation 9, the incorporation documents may be altered by the fund manager without consulting the holders, provided that the trustee or the board of directors, as the case may be, certify in writing that in their opinion the proposed alteration—(a)is necessary to enable compliance with fiscal, statutory or other official requirements; or—(b)does not materially prejudice holders' interests, does not to any material extent release the trustee, custodian, fund manager or the board of directors, their agents or associates from any liability to holders and does not materially increase the costs payable from the collective investment scheme portfolio concerned; or(c)is necessary to correct a manifest error.(2)All alterations under this Regulation shall be filed with the Authority within seven days of the relevant decision.