ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
40. Exercise of rights in respect of the assets of the scheme
Edition: 2023-12-15 · In force
40. Exercise of rights in respect of the assets of the scheme
(1)The trustee shall take all steps and execute all documents as are necessary to ensure that recommendations properly given to the trustee by the fund manager as to the exercise of rights including voting rights attaching to the ownership of assets are carried out.(2)The trustee may exercise any voting rights conferred on it by any of the assets of the scheme which is in participatory interests or shares in another collective investment scheme managed or otherwise operated by the fund manager but only after consultation with the fund manager.(3)The trustee shall, upon the written request of the fund manager, execute and deliver or cause to be executed and delivered to the fund manager or the fund manager’s nominees, such powers of attorney or proxies as the fund manager may reasonably require, in such name or names as the fund manager may request, authorizing such holders of the powers of attorney and proxies to vote, consent or otherwise act in respect of all or any part of the assets of the scheme not included in subregulation (2).(4)The trustee shall, without undue delay, forward to the fund manager all notices of meetings, reports, circulars, proxy solicitations and other such documents received by the trustee as a registered participant of any security.