ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
117. Subdivision and consolidation of participatory interests
Edition: 2023-12-15 · In force
117. Subdivision and consolidation of participatory interests
(1)The fund manager may, unless expressly forbidden to do so by the incorporation documents, at any time, with the approval of the trustee, determine—(a)that each participatory interest shall be subdivided into two or more participatory interests whereupon each participatory interest shall stand subdivided accordingly; or(b)that two or more participatory interests shall be consolidated whereupon those participatory interests shall stand consolidated.(2)Upon a subdivision or consolidation of participatory interests, the fund manager shall immediately notify each participant entered in the register, of the subdivision or consolidation.