ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
160. Duty to ascertain liabilities
Edition: 2023-12-15 · In force
160. Duty to ascertain liabilities
(1)The fund manager shall make all reasonable efforts to ensure that all the liabilities of the scheme are discharged before the completion of the winding up.(2)The duty in subregulation (1) relates to all liabilities of the investment company of which—(a)the fund manager is, or becomes aware before the completion of the winding up; or(b)the fund manager would have become aware before the completion of the winding up had made all reasonable efforts to ascertain the liabilities of the scheme.(3)Where the fund manager rejects any claim against the scheme in whole or in part, the fund manager shall immediately send to the claimant written notice of its reasons for doing so.