Financial Services (Treasury Management) Rules 2025

Government Notices 2025 285 Imac2–Nushrat / Govt Notices 2025/ The Financial Services (Treasury Management) Rules 2025. 25.04.2025 - 3rd Proof MIN / SLO Government Notice No. 38 of 2025 THE FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act

1. These Rules may be cited as the Financial Services (Treasury Management) Rules 2025.
2. In these Rules – “Act” means the Financial Services Act; “bank” has the same meaning as in the Banking Act 2004; “Treasury Management Licence” means a Treasury Management Licence referred to in Part I of the Second Schedule to the Act; “foreign exchange transaction” - (a) means the – (i) buying and selling foreign currency, including spot and forward exchange transactions and wholesale money market dealing; (ii) buying and selling of foreign currency notes, coins and travellers’ cheques; (iii) replacement of lost or stolen travellers’ cheques; (iv) encashment under credit cards; and (v) money or value transfers services; and (b) includes - (i) foreign exchange swap transactions; and (ii) any other transaction which may be construed as the buying and selling of foreign currency;

286 Government Notices 2025 “foreign exchange dealer” has the same meaning as in the Banking Act 2004; “money or value transfer services” has the same meaning as in the Banking Act 2004. 3. (1) No person shall, by way of business, carry out the treasury management activities described in Rule 5 without a Treasury Management Licence issued by the Commission. (2) An application for a Treasury Management Licence shall be made in accordance with Part IV of the Act in such form and manner as may be specified in the Financial Services (Consolidated Licensing and Fees) Rules 2008. 4. (1) These rules shall apply to any person carrying out Treasury Management activities by way of business in or from Mauritius. (2) These rules shall be read in conjunction with the relevant Acts and any guidelines which the Commission may issue from time to time. 5. Subject to Rule 6, a holder of a Treasury Management Licence may provide the following activities, by way of business – (a) cash and liquidity management and assisting funding requirements for entities; (b) engagement in negotiations with banks and other financial institutions when securing loans and other bank facilities for entities, including groups and its subsidiaries; (c) managing foreign currency risk and hedging strategies; (d) providing strategic treasury advice to entities; (e) managing receivables for entities; Imac2–Nushrat / Govt Notices 2025/ The Financial Services (Treasury Management) Rules 2025. 25.04.2025 - 3rd Proof MIN / SLO

Government Notices 2025 287 (f) acting as facilitator with respect to money market transactions; or (g) any other activities as may be approved by the Commission. 6. Notwithstanding Rule 5, a holder of a Treasury Management Licence shall – (a) not engage in any foreign exchange dealer activities, unless it holds a relevant licence under the Banking Act 2004; and (b) only conduct foreign exchange transactions through a bank or a foreign exchange dealer. 7. (1) A person holding a Treasury Management Licence shall submit weekly returns with the Commission in the form and manner specified in the Schedule. (2) The weekly returns referred to in paragraph (1) shall be submitted not later than one working day from the end of each week. 8. These Rules shall come into operation on 10 May 2025. Made by the Financial Services Commission on 24 April 2025. Imac2–Nushrat / Govt Notices 2025/ The Financial Services (Treasury Management) Rules 2025. 25.04.2025 - 3rd Proof MIN / SLO

288 Government Notices 2025 SCHEDULE (Rule 7) PART I - FOREIGN CURRENCY TRANSACTIONS Name of Company Activity Licence Number Period Details of Foreign Currency Transactions Transaction Date Counterparty Name Transaction Type: Spot Purchase/ Spot Sale Purchase Sale Spot Rate of Transaction Prevailing Buying & selling rate* (BOM Rate) Is the counterparty within the same group? (Yes/ No) Indicate whether Counterparty/ broker is regulated (Yes/ No) Purpose of Transaction Currency Purchased Amount Purchased Currency Sold Amount Sold

• Buying and Selling T.T. according to the Consolidated Indicative Exchange Rates published on the website of Bank of Mauritius on the transaction date

Government Notices 2025 289 PART II - INTERCOMPANY BORROWINGS AND LENDINGS Name of Company Activity Licence Number Period Details of Intercompany Borrowings & Lendings Start Date Counterparty Name Transaction Type: Borrowing/Lending Currency Amount Interest Rate Maturity Date

290 Government Notices 2025 By Authority: Government Printing Department, La Tour Koenig 35/04/2025 – 934 PART III - INTERCOMPANY SWAPS Name of Company Activity Licence Number Period Details of Intercompany Swaps Start Date Counterparty Name Transaction Type: Swap Purchase/ Swap Sale First Leg Second Leg Maturity Date Currency Traded in First Leg Amount Rate Currency Traded in Second Leg Amount Rate Note: From the point of view of reporting entity, swap purchase pertains to purchase of currency in first leg. Swap sale pertains to sale of currency in first leg.