ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
7. Assets of the scheme
Edition: 2023-10-06 · In force
7. Assets of the scheme
(1)All assets of the real estate investment trust scheme shall—(a)be held in the name and under the control of the trustee for the benefit of REIT securities holders as the beneficiaries of the trust in accordance with the terms of the trust deed;(b)only be invested in eligible investments; and(c)be segregated from the assets and liabilities of the trustee and not constitute the assets of the trustee in the event of—(i)a claim by the creditors of the trustee;(ii)the insolvency, winding up, takeover, restructure or amalgamation of the trustee;(iii)the winding up of the scheme;(iv)the dissolution of the scheme; or(v)the amalgamation or restructure of the scheme.(2)A trustee may, subject to the provisions of these Regulations and the terms of the trust deed, enter into borrowing arrangements for the purpose only of fulfilling the objectives of the trust and may pledge or otherwise give security over the assets of the trust scheme to secure such borrowing.