ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
24. Service of notice and handing over
Edition: 2022-12-31 · In force
24. Service of notice and handing over
(1)Notice shall be deemed to have been served seven days from the date of its dispatch and shall come into effect four days after it is served and such termination will be deemed to be effective ninety days after the notice comes into effect.(2)During the last thirty days of the notice period given under Regulations 22 and 23 the fund manager shall:—(a)hand over, transfer and deliver to a fund manager, appointed in writing by the trustee or board of directors and licensed by the Authority to succeed the outgoing fund manager, all information within itself in relation to its contractual duties to the scheme including—(i)statements pertaining to the entire scheme fund;(ii)investment portfolio including details of the cost of such investments and estimated yields;(iii)statements pertaining to all incomplete transactions; and(iv)any other information as may reasonably be required by the scheme.(b)hand over, transfer and deliver all records of accounts required to be maintained by a fund manager under Regulation 18, as may be reasonably required by the incoming fund manager:Provided that copies of the said information shall be submitted to the Authority within the same period.TRUSTEE