ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
76. Interim allocation of income
Edition: 2022-12-31 · In force
76. Interim allocation of income
(1)This Regulation applies if at any time the most recently published information memorandum—(a)states that an allocation of income will be made before the annual income allocation date in any year in respect of a period (`hereinafter referred to as an interim accounting period') within the annual accounting period; and(b)specifies a date as the interim income allocation date in relation to that interim accounting period.(2)In a case such as that provided for under subregulation (1), Regulations 73, 74 and 75 shall apply so as to secure the making of an interim allocation of income as if—(a)the interim accounting period in question and all previous interim accounting periods in the same annual accounting period taken together, were the annual accounting period;(b)the interim income allocation date were the annual income allocation date; and(c)the trustee or board of directors were to treat as the available amount of income for the interim allocation a sum which, in the opinion of the fund manager, would be available for allocation of income if the interim accounting period and all previous interim accounting periods in the same annual accounting period taken together were an annual accounting period.