The Capital Markets (Collective Investments Schemes) Regulations, 2023

46. Removal of a trustee

Edition: 2023-12-15 · In force

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46. Removal of a trustee

The trustee shall be removed upon the happening of any of the following events—

(a)voluntary retirement of the trustee;

(b)the trustee ceases to be a licensee of the Authority;

(c)the trustee goes into liquidation;

(d)where a manager or a receiver is appointed over any of of the trustee’s assets;

(e)the trustee fails to perform the trustee’s duties and the fund manager, for good and sufficient reason, recommends the removal of the trustee and gives a three months’ notice of the removal to the trustee, the unit holders and Authority; or

(f)upon the occurrence of any other event warranting the trustee’s removal, subject to approval by the Authority.

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Source: Kenya Law