ADVOKS GLOBAL · KENYA
The Charter for Daystar University
33B. Dissolution
Edition: 2023-12-22 · In force
33B. Dissolution
(1)The dissolution of the University shall be effected—(a)by a resolution passed at meeting by a vote of ninety per cent of the members of the Sponsor on the grounds of insolvency; and(b)on the revocation of the Charter in accordance with section 22 of the Act.(2)Notwithstanding that the dissolution of the University on grounds of bankruptcy has been duly approved under section 33A above, the dissolution shall always be subject to the approval of the Commission for University Education. Further the dissolution process shall ensure that all enrolled students are either accorded opportunity to complete their studies without disruption or transferred to other institutions.(3)In the event of the dissolution of the University as contemplated above, any funds, assets or property remaining after the satisfaction of all debts and liabilities shall be distributed to any other Christian institution of higher learning nominated by the Sponsor with similar vision, mission and obj ectives to that of the University.