ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
22. Termination of a real estate trust scheme by the promoter, trustee or REIT Manager
Edition: 2023-10-06 · In force
22. Termination of a real estate trust scheme by the promoter, trustee or REIT Manager
(1)The trustee shall, where it initiates the revocation of an authorization under regulation 20 (1), apply to the Authority for the termination of the real estate investment trust scheme.(2)The trustee shall submit, together with the application under paragraph (1), a plan for winding up the scheme.(3)The Authority shall approve a plan for winding up submitted to it under paragraph (2) if the Authority is satisfied that the interests of the REIT securities holders are properly protected.(4)This regulation shall apply subject to any orders that may be made by the Court under regulation 23.