The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
107. Notification and compliance report by the auditor
107. Notification and compliance report by the auditor
An auditor shall, in addition to any other requirement for notification under the Act or these Regulations, notify the trustee and the Authority within seven days of becoming aware of any failure, act or omission of the trustee, REIT manager, including any person appointed by the REIT manager, any property manager, valuer, project manager certifier which constitutes or may constitute a breach of any provision of the Act, these Regulations or the scheme documents and the steps taken by the auditor or which the auditor has recommended be taken to rectify the breach as soon as possible.Source: Kenya Law