ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
85. Quorum
Edition: 2022-12-31 · In force
85. Quorum
(1)The quorum at a meeting of holders shall be specified in the information memorandum or the trust deed.(2)No business shall be transacted at any meeting unless the requisite quorum is present at the commencement of the meeting.(3)If within half an hour from the time appointed for the meeting a quorum is not present the meeting, if convened on the requisition of holders, shall be dissolved and in any other case it shall stand adjourned to such day and time not being less than seven days thereafter and to such place as may be appointed by the chairman if any has been appointed pursuant to the incorporation documents or otherwise by the trustee, board of directors or fund manager, as the case may, be and if at such adjourned meeting a quorum is not present within fifteen minutes from the time appointed for the meeting, the holders present shall comprise the quorum.(4)Notice of any adjourned meeting of holders shall be given and such notice shall state that the holders present at the adjourned meeting whatever their number and the number of shares held by such holder or holders shall form a quorum.