ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
16. Refusal of approval
Edition: 2023-12-15 · In force
16. Refusal of approval
(1)Where the Authority intends to reject an application under regulation 10, it shall give the applicant written notice of its intention to do so, stating the reasons for the intended rejection.(2)A person on whom a notice is served under subregulation (1) may, within twenty-one days after service, make written or oral representations to the Authority regarding the intended rejection of the application.(3)In making its decision, the Authority shall have regard to any representations made in accordance with subregulation (2) in determining whether to reject the application.