ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
95. Control over maximum charges on issue and redemption
Edition: 2023-12-15 · In force
95. Control over maximum charges on issue and redemption
(1)No introduction of, or change to, either of the charges permitted by regulation 90 shall take effect unless the trust deed is modified under regulation 150 or, as the case may be, the information memorandum is amended following approval of the introduction or change by an extraordinary resolution at a meeting of the holders called for the purpose where in respect of any individual participatory interest notionally issued and redeemed on the same day the maximum amount or percentage of any preliminary charge and of any charge on redemption would, in aggregate, exceed the maximum amount or percentage for the preliminary charge alone which is stated in the incorporation documents.