ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
57. Restrictions on activities of a REIT manager
Edition: 2023-10-06 · In force
57. Restrictions on activities of a REIT manager
(1)A REIT manager shall not, in relation to a scheme for which it is the REIT manager, engage in any activity other than the management of that scheme.(2)A REIT manager shall, if the REIT manager intends to act for more than one scheme, apply to the Authority for an approval.(3)The Authority shall, in considering an application under subparagraph (2), take into consideration—(a)the resources, skills and experience of the REIT manager;(b)the performance of the REIT manager and of the scheme; and(c)potential conflicts or interests that may arise as a result of the company acting as a REIT manager in relation to more than one scheme.(4)An approval by the Authority for REIT manager to manage more than one scheme shall be conditional upon the trustee and the REIT securities-holders of each scheme approving the appointment and the terms of the appointment.