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Uganda - Apply for Capital Market Authority Trustee Collective License

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Procedure[edit]

Apply In-person

  1. To apply for a Capital market authority trustee license, the applicant should visit the capital market head office with an application form in a prescribed manner specified by the Authority.Find their website on the following link Uganda Capital Markets
    • The Act states that in the case of an application to be licensed as a trustee may be only made by a bank, as defined by the Financial Institutions Statute 1993, or an Insurance company, as defined by the Insurance Statute 1996, or such other financial institution as the Authority may prescribe.
  2. Applicants are required to collect and complete the prescribed application form, obtainable from the Capital Market Authority head office. The Collective Investment Schemes (Licensing) Regulations, 2003 prescribes the form for the application for the license.
  3. Submit the completed form in all respect and all the relevant documents to the Capital market Authority. Any omission of the supporting documents will render the application process incomplete.
  4. The capital Market licensing board shall, within 45 days of receipt of an application, investigate and prepare a detailed report in respect of the application.
  5. Pay a non- refundable License application fee of five hundred thousand(500,000) shillings to the Capital Markets (Licensing) Board. In case of a capital Market trustee license an annual licensing fee of two million five hundred thousand shillings only (2,500,000)should be paid.
  6. Regulations states that the Authority shall consider an application and inform the applicant of its decision within six months after the application has been lodged with it and where further information is required, the six month period begins to run from the date of the submission of the additional information.
  7. The Authority shall notify the applicant, in writing, of its decision Within a period of 45 days after the afore-mentioned period, the Capital Market Authority shall grant or refuse to grant the application, it shall state the reasons in such notice.
  8. The license shall be subjected to terms and conditions as the Capital Market Authority deem fit. The licensee shall also be subjected to supervision and monitoring by the Capital Market Authority.
  9. A license shall expire at the end of one year from the date of issue
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Required Documents[edit]

  • The relevant Instrument of Incorporation should be attached on the application before submission
  • Memorandum and Articles of Association should be attached on the application form
  • Statement of assets and liabilities should be attached on the application form
  • A statement of the corporate name, registered office and principal place of business.
  • A statement of the particulars of the directors of the company.
  • Audited financial statements and auditors report for the preceding three years.
  • A certificate of no objection from the relevant regulatory body.
  • A letter of consent to act and details of its auditor.
  • The address of a place in Uganda for the services on the applicant of any notice or other document required or authorized to be served on him or her under the Act and these regulations.

Office Locations & Contacts[edit]

Capital Markets Authority. - Head Office,
Uganda Business Facilitation Center,
8th Floor 1 Baskerville Avenue ,Kololo,
Uganda
Postal Address: P. O. Box 24565
Kampala, Uganda.
Fax +256 414 342 803
Phone: +256-414-342788/91
Tel: +256 - 312 - 264950/1
Email: [email protected]
Website:Link

Eligibility[edit]

  • No person is allowed to carry on any business as trustee.
  • A trustee may be only made by a bank, known to be a Financial Institutions , or an Insurance company,or such other financial institution as the Authority may prescribe.
  • These are only institution approved as such by the Capital Markets Authority to practice and to be eligible as trustees

Fees[edit]

  • Application fees for capital market Authority trustee collective license is USh. 500,000
  • The License Fees for Capital Market Authority Trustee Collective license is USh. 2, 500,000

Validity[edit]

  • The Validity period for capital Market Authority trustee collective license is one year

Documents to Use[edit]

Please attach documents that can be used by people. e.g. links

Sample Documents[edit]

Please attach sample completed documents that would help other people.

Processing Time[edit]

  • The Maximum Processing time required for capital Market trustee Collective license 45 days

Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions[edit]

  • All applicants for capital Market trustee license must register with Capital Market Authority, and be familiar with the rules relating to the Capital Market practice in Uganda

Required Information[edit]

  • Name of company
  • Registered office.
  • Date of incorporation
  • Address
  • Email
  • Location, address and telephone number of principal office
  • Details of capital structure
  • Shareholders
  • Directors
  • Particulars of other directorship(s) of the directors and secretary
  • Particulars of shares held by directors or secretary in other companies
  • Business references
  • Profile of the chief executive and key employees in the applicant company
  • List the office facilities of the applicant
  • State the exact nature of the activity to be carried on which obliges the applicant to apply for a license from the Capital Markets Authority


Need for the Document[edit]

  • The purpose of this document is to regulate collective investment schemes for the participants

Information which might help[edit]

  • The Act defines a Trustee as the person holding title to the property of a unit trust scheme on trust for the participants and, in relation to a collective investment scheme constituted under the law of a country or territory outside Uganda, means any person who, whether or not under a trust, is entrusted with the custody of the property in question.

Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links[edit]

Others[edit]

More information which might help people.