ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
101. Preparation of semi-annual and annual reports
Edition: 2023-10-06 · In force
101. Preparation of semi-annual and annual reports
(1)A REIT Manager shall prepare or cause to be prepared on behalf of, and present to the trustee for the trustee's consideration, semi-annual and annual reports for the scheme including the accounts for the real estate investment trust during such periods.(2)The reports prepared under paragraph (1) shall—(a)be submitted to the trustee for approval;(b)provide all the information necessary to enable the holders of REIT securities and potential investors to evaluate the performance of the real estate investment trust scheme; and(c)be prepared in accordance with IFRS, the Act and these Regulations.(3)The reports prepared under paragraph (1) shall contain the information specified under the Fifth Schedule and such other information as the Authority may require and shall include—(a)in the case of—(i)an annual report, audited financial statements certified by both the trustee and the REIT manager to be true and correct; and(ii)semi-annual report, financial statements which may be audited but shall be certified by both the trustee and the REIT manager to be true and correct;(b)the auditor's report for annual statements which shall include a compliance report; and(c)a report of the Shariah adviser, where applicable.(4)Any certification by the trustee and REIT manager shall be signed by the compliance officer of the trustee and in the case of the REIT manager, by the chief executive officer and at least one non-executive director.