ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
87. Refusal to create or cancel participatory interests
Edition: 2023-12-15 · In force
87. Refusal to create or cancel participatory interests
(1)Where, on receipt of instructions to create or cancel participatory interests, the trustee is of the opinion that it is not in the interests of participants that—(a)participatory interests should be created;(b)participatory interests should be cancelled; or(c)participatory interests should be created or cancelled in the number requested by the fund manager,the trustee must give notice to the fund manager stating that the trustee refuses to create or as the case may be cancel all or a specified number of the participatory interests so requested.(2)On the giving of notice under subregulation (1), the trustee is relieved of the obligation to create or cancel the number of participatory interests to which the notice relates.