ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
107. Additional provisions applicable to umbrella schemes
Edition: 2022-12-31 · In force
107. Additional provisions applicable to umbrella schemes
(1)Liabilities of an umbrella scheme attributable, or allocated in accordance with Regulation 42 to a particular sub-fund shall be met out of the scheme collective investment scheme portfolio attributable or allocated to such sub-fund.(2)In this Part—(a)references to shares are references to shares of the class(es) related to the sub-fund to be terminated;(b)references to holders are references to holders of such shares;(c)references to a resolution or extra-ordinary resolution are references to such resolution passed at a meeting of holders of shares of the class or classes referred to in paragraph (a);(d)references to collective investment scheme portfolio are references to collective investment scheme portfolio allocated or attributable to the sub-fund to be terminated; and(e)references to liabilities are references to liabilities of the company allocated or attributable to the sub-fund to be terminated.