ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
66. Application to be a custodian
Edition: 2023-12-15 · In force
66. Application to be a custodian
An application for a license shall be made in the manner set out in Form II of the First Schedule and shall be accompanied by the following—(a)certified copy of a valid license (if any) or certificate of incorporation;(b)articles of Association with objects that authorize the company to carry out custodial business;(c)audited financial statements for the preceding two years and six months unaudited, financial statements where relevant;(e)details of the management structure;(f)shareholding structure detailing the number of shares, the percentage holding and including the ultimate beneficial shareholding of all corporate shareholders and any existing Trusts if applicable;(g)financial projections for three years;(h)description of the operating and Information Technology system in place or the system to be put in place once licensed;(i)details of the external Auditor;(j)details of the Company Secretary;(k)two letters of business reference and one letter of bank reference;(l)a risk management framework;(m)duly filled and executed Fit and Proper Form for directors and Head of Custodial Services; and(n)application fees as set out in the Seventh Schedule.