ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
108. Requirement to cover sales
Edition: 2023-12-15 · In force
108. Requirement to cover sales
No agreement on behalf of a scheme to dispose of property may be made by the fund manager or trustee unless—(a)that obligation, and any other similar obligation, could immediately be honored by the scheme by delivery of property or the assignment of rights; and(b)the property and rights are owned by the scheme at the time of the agreement.