ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
161. Final account
Edition: 2023-12-15 · In force
161. Final account
(1)As soon as the scheme’s affairs are fully wound up (including distribution or provision for distribution in accordance with regulation 161(2), the fund manager shall prepare an account of the winding up showing how it has been conducted and how the assets under management have been disposed of.(2)The account shall, following its approval by the board of directors in the case of an investment company or trustee in all other cases be signed on their behalf by the fund manager and the account shall, once signed, be the "final account" for the purposes of these Regulations.(3)The final account shall state the date on which the scheme’s affairs were fully wound up and the date stated shall be regarded as the final day of the accounting period of the investment company.(4)The scheme’s auditor shall make a report in respect of the final account, which shall state the auditor’s opinion as to whether the final account has been properly prepared for the purposes of subregulation (1).(5)Within two months of the end of the final accounting period, the fund manager shall send a copy of the final account and the auditor’s report on it to the Authority, to each person who was a participant or the first named joint holders immediately before its end, and to the Registrar of Companies where applicable.