ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
87. Advertising
Edition: 2023-10-06 · In force
87. Advertising
(1)A REIT manager shall not issue or cause to be issued any advertisement for or in connection with the scheme unless the contents of the advertisement have been approved by the trustee and the Authority.(2)For the purposes of paragraphs (1), "advertisement" shall not include any publication of the issue, sale, repurchase or redemption prices of REIT securities.(3)An advertisement in respect of a real estate investment trust scheme shall set out a summary of the rights of the REIT securities holder as provided for in the scheme documents include a warning statement that—(a)the price and value of REIT securities and the income from REIT securities, may fluctuate;(b)the REIT securities holder in a restricted offer REIT may have limited or no rights to redemption and in certain circumstances the right of a REIT securities holder to redeem the REIT securities may be suspended; and(c)if the REIT securities are those of a unrestricted offer I-REIT, a statement that the security holder is not entitled to require the trustee to redeem their REIT securities compulsorily and their exit would in ordinary circumstances be through sale on an exchange at a price determined by the market which may not reflect the net asset value per unit.(4)A warning statement under paragraph (3) shall be printed in the same font size as the other text in the advertisement.