ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
134. General and extra ordinary meetings
Edition: 2023-12-15 · In force
134. General and extra ordinary meetings
(1)The trustee shall convene—(a)a general meeting within four months after the relevant accounting reference date; or(b)an extra ordinary general meeting on receipt of a requisition that complies with subregulation (3), for a date not later than two months after receipt of the requisition.(2)A meeting can either be virtual or physical.(3)A requisition shall—(a)state the objects of the meeting;(c)be signed by participants who, at that date, are registered as the holders of participatory interests representing not less than one-tenth in value and number of all of the participatory interests in the fund or sub fund then in issue; and(d)be deposited at the head office of the scheme.(4)A requisition may consist of several documents deposited with the fund manager or the investment company at the same time, each being in like form and signed by one or more participants.(5)In the case of a collective investment scheme constituted as a corporate body, other than duly requisitioned meetings of holders of participatory interests, the fund manager shall not be obliged to convene general meetings of holders of participatory interests in the manner contemplated in the Companies Act (Cap. 486).(6)In the case of an investment company, the Alternate Corporate Director or the directors may convene a meeting of participants at any time.