ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
150. Modification of the trust deed: with meeting
Edition: 2023-12-15 · In force
150. Modification of the trust deed: with meeting
(1)A modification may be made to the trust deed only by a deed approved by the Authority, expressed to be supplemental to the trust deed, entered into by the fund manager and the trustee or custodian following—(a)the calling of a meeting of participants by notice if required under subregulation (2); and(b)the approval of the holders if required under subregulation (3).(2)The calling of a meeting is necessary unless the fund manager and the trustee or custodian have agreed that the modification is one which may, in accordance with regulation 151, be made without the approval of a resolution.(3)The approval of the participants signified by the passing at the meeting of an extraordinary resolution authorising the modification is required in any case where a meeting of participants has to be called.(4)If a meeting is required under subregulation (2), the notice of the meeting shall state that the trustee or custodian has reviewed the circumstances leading to the proposed resolution and considers that the information accompanying the notice contains sufficient information to enable participants make an informed decision.