ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
67. Dilution Levy
Edition: 2022-12-31 · In force
67. Dilution Levy
(1)The fund manager shall have the power to require either or both of—(a)the payment of a dilution levy in respect of the issue or sale of shares or any class of shares; and(b)the deduction of a dilution levy in respect of the redemption or the cancellation of shares or any class of shares.(2)Any payment or deduction provided for under subregulation (1) shall become due the same time as payment becomes due in respect of the relevant issue, save redemption or cancellation.(3)A dilution levy may be imposed only in a manner that is, so far as practicable, fair to all holders and potential holders and the maximum rate must be disclosed in the current information memorandum.