ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
59. Timing of instructions to create or cancel units
Edition: 2022-12-31 · In force
59. Timing of instructions to create or cancel units
(1)A fund manager may at any time give instructions to the trustee to create or to cancel units.(2)Where instructions are given at a time which is less than twelve hours after the last valuation point and before the next valuation point the instructions must be given by reference to the price calculated or being calculated for the last valuation point.(3)Where instructions are given at a time which is more than twelve hours after the last valuation point:(a)instructions must be given by reference to the price next to be calculated; and(b)the trustee shall create or cancel the units only after the next valuation point has been reached.OPERATIONAL REQUIREMENTS (DEALING)