How to Apply for Capital Market Authority Trustee Collective License In Uganda

Apply for Capital Market Authority Trustee Collective License In Uganda By Yourself

To apply for an Capital market Authority trustee license, applicants should go to the head office of capital markets using an application form according to the procedure prescribed by the Authority.Find their website by clicking the following link Uganda Capital Markets
- The Act provides that an application for a license as a trustee can be only submitted by a bank according to the Financial Institutions Statute 1993, or an insurance company according to the Insurance Statute 1996, or any other financial institution that the Authority could decide.
The applicants are required to fill out an application template accessible from the Capital Market Authority head office. The Collective Investment Schemes (Licensing) Regulations 2003 provide the form required to submit an application of the permit.
Fill out the form completely complete and with all relevant required documents to Capital market Authority. The absence of supporting documents could render the application insufficient.
The capital market licensing board will within 45 days after receipt of the request, review and produce a thorough report on the application.
Pay a non-refundable License Application Fee of Five hundred thousand(500,000) in shillings for the Capital Markets (Licensing) Board. If you have an Capital Market trustee license, an annual fee for license renewal of 2 millions five hundred thousands shillings (2,500,000)should be paid.
Regulations state that the Authority will review an request and inform applicants of their decision in the first six months following the application has been filed with it. If further information is required, the six-month period starts beginning from the time of filing of additional details.
The Authority will notify the applicant in writing, of the Authority’s decision. within 45 days following the above-mentioned time frame The Capital Market Authority shall grant or deny the application. The Authority will give the reasons in the notification.
The license is subject to conditions and terms that they by the Capital Market Authority deem fit. The licensee is also monitored and supervised from Capital Market Authority. Capital Market Authority.
The license expires at the expiration of the year following the date of issue.

Required Documents For Apply for Capital Market Authority Trustee Collective License

The appropriate Instrument of Incorporation needs to be attached to the application prior to the application is submitted.
The Memorandum as well as the Articles of Association must be included to the application form.
Statement of liabilities and assets must be included to the application form.
A declaration of the company’s name with registered office, corporate name and principal business location.
An account of the details of directors of the company.
Audited financial statement and audited reports for the previous three years.
A non-objection certificate from the regulatory body in question.
A written consent form to act, along with the name of the auditor.
The address of a location in Uganda to provide services to the person who is the recipient of all notices or document that is required or allowed to be served on him or her pursuant to the Act and these rules.

Office Locations and Contacts

Capital Markets Authority

8th Floor Jubilee Insurance Centre

14. Parliament Avenue

P. O. Box 24565, Kampala, Uganda

Tel: +256 – 414 – 342788/91

Tel: +256 – 312 – 264950/1

Fax: +256 – 414 – 342803

Email: info@cmauganda.co.ug

Website:Uganda Capital Markets

Eligibility

Nobody is permitted to run a company as trustee.
A trustee is appointed by a bank also known as an Financial Institutions , or an Insurance company, or such other financial institution that the Authority can decide to authorize.
They are the only institution that has been that have been approved from the Capital Markets Authority to practice and to be able to act as trustees

Fees

The application fee to obtain a capital market Authority trustee collective licenses are USh. 500,000
The cost of a license to obtain a Capital Market Authority Trustee Collective license is USh. 2, 500,000

Validity

The period of validity for capital Market Authority trustee collective license is one year.

Processing Time

The maximum processing time needed for Capital Market trustee Collective licenses is 45 days.

Instructions

All applicants seeking a Capital Market trustee licenses must be registered with the Capital Market Authority, and be informed of the rules regarding capital market practice. Capital Market practice in Uganda

Requirements Information

Name of the company
Registered office.
Date of incorporation
Address
Email
Address, location, and telephone number of the principal office
Information on capital structure
Shareholders
Directors
Details of the any other directorship(s) of directors and secretary
Information on shares held by directors or the secretary in other companies.
References for business
Profil of chief executive as well as important employees of the company
Provide the office equipment and facilities of the applicant.
Define the exact nature of the business to be conducted, which obligates the applicant submit a request for a licence to Capital Markets Authority. Capital Markets Authority

Documentation is needed

The intention behind the document is to govern schemes for collective investment for participants.

Information that can be useful

The Act defines Trustees as those with title to the assets of an unit trust scheme that is in trust for participants. In relation to an investment scheme that is a collective pursuant to the laws of a territory or country that is not part of Uganda that is, anyone who, regardless of whether it is an trust, is entrusted with the responsibility of the property being entrusted to them.

External Links

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