ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
65. Management and audit of the Compensation Fund
Edition: 2023-10-06 · In force
65. Management and audit of the Compensation Fund
(1)The Compensation Fund shall be managed by the Authority as a separate fund and disclosed as such in the Authority’s annual balance sheet as an asset and liability.(2)The Authority shall keep proper accounts and records of the Compensation Fund and in every financial year, prepare a statement of accounts showing the movement and financial position of the Fund in the Authority’s annual report.(3)The accounts referred to in paragraph (2) shall include the income and all sources of contribution to and expenses or disbursements of the Compensation Fund including the fees charged by the Authority for the management of the Fund and any investments of the Fund.(4)The accounts and records of the Compensation Fund shall be audited by the auditor appointed by the Authority for the Authority’s annual accounts.