ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
143. Votes at meetings
Edition: 2023-12-15 · In force
143. Votes at meetings
(1)At any meeting of participants, an extraordinary resolution put to the vote of the meeting shall be decided on a show of hands unless a poll is demanded by the chairperson, the trustee or by one or more participants present in person or by proxy and holding at least five percent for this purpose in the incorporation documents in value of all the participatory interests in issue on the date specified in regulation 134 (3) (c).(2)Unless a poll is so demanded, a declaration by the chairperson that a resolution has been carried or carried unanimously or by a particular majority or lost shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour or against the resolution.(3)If a poll is duly demanded, it shall be taken in such a manner as the chairperson may direct and the result of a poll shall be deemed to be the resolution of the meeting at which the poll was demanded.(4)A poll demanded on the election of a chairperson or on a question of adjournment shall be taken immediately and a poll demanded on any other question shall be taken at such time and place as the chairperson directs.(5)The demand for a poll shall not prevent the continuance of a meeting for the transaction of any business other than the question on which the poll has been demanded.(6)On a show of hands, every participant who being an individual is present in person, or being a corporation is present by its representative properly authorised in that regard, shall have one vote.(7)On a poll, every participant who is present in person or by proxy shall have one vote for every share in the property of the scheme.(8)A corporation, being a participant, may authorise such person as it thinks fit to act as its representative at any meeting of participants and the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he or she represents as the corporation could exercise if it were an individual participant.(9)In the case of joint holders, the vote of the senior who tenders a vote whether in person or by proxy shall be accepted to the exclusion of the votes of the other joint holders and for this purpose, seniority shall be determined by the order in which the names stand in the register of holders.(10)On a poll, votes may be given either personally or by proxy.(11)In the case of an equality of votes cast whether on a show of hands or on a poll in respect of a resolution put to a general meeting, the chairperson appointed in terms of the formation documents or as provided in these Regulations shall be entitled to a casting vote in addition to any other vote he or she may have.