The Capital Markets (Licensing Requirements) (General) Regulations

57. Nature of transaction

Edition: 2023-10-06 · In force

57. Nature of transaction

An application to the Authority for approval of a private transaction shall be considered if the transaction is for the—

(a)transfer to a close relation in the form of a gift;

(b)settlement of a will or estate of a deceased person;

(c)restructuring, mergers or acquisitions in a scheme which has been approved by the Authority;

(d)transfer of an exceptional nature of a listed security that the Authority considers to be proper and acceptable with respect to a strategic investor and serves the investor or public interest; or

(e)transfer not resulting in any change in beneficial ownership otherwise than for purposes of regulation 57(c), (d) or section 31(1A)(ii) of the Act.

[L.N. 112/2013, r. 13.]

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Source: Kenya Law