ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
145. Proxies
Edition: 2023-12-15 · In force
145. Proxies
(1)The instrument appointing a proxy shall be in writing under the hand of the appointor or of his or her attorney duly authorised in writing or, if the appointor is a corporation, either under the common seal or under the hand of an officer or attorney so authorised.(2)No instrument for appointing a proxy shall be valid after the expiration of twelve months from the date named in it as the date of its execution.(3)A person appointed to act as a proxy need not be a participant.(4)An instrument of proxy may be a form approved by the trustee.(5)A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding—(a)the previous death or insanity of the principal or revocation of the proxy or of the authority under which the proxy was executed; or(b)the transfer of the participatory interests in respect of which the proxy is given,except that no intimation in writing of such death, insanity, revocation or transfer shall have been received at the place appointed for the deposit of proxies, or if no such place is appointed, at the registered office of the fund manager before the commencement of the meeting or adjourned meeting at which the proxy is used.(6)The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a naturally certified copy of such power or authority shall be deposited at such place as the trustee or the fund manager with the approval of the trustee may, in the notice convening the meeting, direct or if no such place is appointed then at the registered office of the fund manager.(7)The direction by the trustee under subregulation (6) shall be not less than forty-eight hours before the time appointed for holding the meeting or adjourned meeting or in the case of a poll before the time appointed for the taking of the poll at which the person named in the instrument proposes to vote, and in default, the instrument of proxy shall not be treated as valid.