ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
4. Requirement for prior consent
Edition: 2023-10-06 · In force
4. Requirement for prior consent
(1)Where a promoter any person who is or proposes to vest in, sell, assign or transfer real estate to a real estate investment trust is regulated by another body or authority, that promoter or person shall obtain the consent of the body or authority prior to submitting an application for authorization as a real estate investment scheme to the Authority.(2)A breach of paragraph (1) shall not operate to void any transaction entered into or prevent the trustee from pursuing any remedies the trustee may have against any other person but shall prevent any action by the other promoter or other party against the trustee for non-performance of any contract entered into in contravention of this provision.